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DIL announced that there has been an upgrade in Credit Rating assigned to Fermenta Biotech, Company's subsidiary, by CARE Ratings with effect from 10 January 2019. The rating also takes into account the impact of theproposed amalgamation of Fermenta Biotech with the Company. Consequently, the outlook has also been changed from “credit watch with developing implications” to “stable.

Long-term Bank Facilities (fund based limit) - CARE A-; Stable (Revised from CARE BBB+; under Credit watch with developing implications)

Long-term Bank Facilities (term loan) - CARE A-; Stable (Revised from CARE BBB+; under Credit watch with developing implications)

Short-term Bank Facilities (non-fund based limit) - CARE A2 (Revised from CARE A3+; under Credit watch with developing implications)

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