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44,4,N F|oor, SHoBHAN 6-3-92714&8 Raj Bhavan Road Somajiguda, Hyderabad 500082 +91.40.40626500 174999 DL1 99 1 P LCO427 49 ICRA Limir;ecl April 30, 2018 Website :www.icra.in Email :[email protected] Helpdesk : +91 .1 24.2866928 ICRA Confidential Ref.No. ICRA/HYD/AM S L_304 /20 I 8-t g /3004 Mr. Sudarshan Chiluveru Chief Financial Officer Apollo Micro Systems Limited J38l1,-foud No. 12, IDA_Mallapur Uppal Mandal, R.R. District _ 5d0076 The rating, as aforesaid, however, hold the Debt instruments issued company shall require revalidation Bank facility. Dear Sir, Re: ICRA credit Rating for Rs.142.01) crore bank rimits of Apollo Micro systems Limited (instrument details in Anntxure) Please refer to your Rating Agreement dated Febru ary 7,201g and Marc h 2g,2olg requesting ICRA Limited ("ICRA") to carry out the rating of R.s. iqz.oo crore Line of credit (Loc) of your company' The Rating committee of tcfu\, after due consideration, has assigned the long-term rating of "IICRAIBBB" (pronounced ICRA triple B) and the ,hon-,"., rating of .,1ICRAIA3+,, (pronounced ICRA A tfree plus) to the capti,rned LOC. The outlook on the long term rating is ,Stable,. The aforesaid ratings wiil be due for rr.r.iilr,r.. anytime before April 30,2019. The ratings are specific to the terms and conrlitions of the Loc as indicated to us by you, and any change in the terms or size of the sanre.would require a review of the ratings by us. ln case there is any change in the terms and conclitions or the size oithe rated Loc, the same must be brought to our notice before the facility is used by you. In the event such changes occur after the ratings have been assigned by us and ttreir use has been confirmed by you, the ratings would be subject to our review, follou,ing which ttr".e coulo be a change in the ratings previously assigned. No.twithstanding thr: 6regoing, ur, .h*r. in the over-all 1imit of the Loc from that specified.in the first f,ara,grapn ort['i, leiter would constitute an enhancement that would not be covered by or under ttre'-saia Rating Agreement. lcRA r-eserves the right to review and/or, revise the above rating at any time on the basis of new information or unavailability of infurmation or such other circumstances, which ICRA believes, may have an impact on ih. ratin6; assigned to you. should not be treated as a recommendation to buy, sell or 1{ yor. Ttre Rating assigned to the Bank facility of Vou if there is any change in the size or structure ofitre Rated t^Fo| coy4l|te rating definition please reJbr to ICRA website www.icra.in or ony of the ICRA Rating Publications $,r"{ Tel. : CIN: llt) * \cuo/otuu/ * 40676500
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44,4,N F|oor, SHoBHAN6-3-92714&8 Raj Bhavan RoadSomajiguda, Hyderabad 500082
+91.40.40626500174999 DL1 99 1 P LCO427 49
ICRA Limir;ecl
April 30, 2018
Website :www.icra.inEmail :[email protected] : +91 .1 24.2866928
ICRA
Confidential
Ref.No. ICRA/HYD/AM S L_304 /20 I 8-t g /3004
Mr. Sudarshan ChiluveruChief Financial OfficerApollo Micro Systems LimitedJ38l1,-foud No. 12, IDA_MallapurUppal Mandal, R.R. District _ 5d0076
The rating, as aforesaid, however,hold the Debt instruments issuedcompany shall require revalidationBank facility.
Dear Sir,
Re: ICRA credit Rating for Rs.142.01) crore bank rimits of Apollo Micro systemsLimited (instrument details in Anntxure)
Please refer to your Rating Agreement dated Febru ary 7,201g and Marc h 2g,2olg requestingICRA Limited ("ICRA") to carry out the rating of R.s. iqz.oo crore Line of credit (Loc) ofyour company' The Rating committee of tcfu\, after due consideration, has assigned the long-termrating of "IICRAIBBB" (pronounced ICRA triple B) and the ,hon-,"., rating of .,1ICRAIA3+,,(pronounced ICRA A tfree plus) to the capti,rned LOC. The outlook on the long term rating is ,Stable,.The aforesaid ratings wiil be due for rr.r.iilr,r.. anytime before April 30,2019.
The ratings are specific to the terms and conrlitions of the Loc as indicated to us by you, andany change in the terms or size of the sanre.would require a review of the ratings by us. ln casethere is any change in the terms and conclitions or the size oithe rated Loc, the same must bebrought to our notice before the facility is used by you. In the event such changes occur afterthe ratings have been assigned by us and ttreir use has been confirmed by you, the ratingswould be subject to our review, follou,ing which ttr".e coulo be a change in the ratingspreviously assigned. No.twithstanding thr: 6regoing, ur, .h*r. in the over-all 1imit of theLoc from that specified.in the first f,ara,grapn ort['i, leiter would constitute an enhancementthat would not be covered by or under ttre'-saia Rating Agreement.
lcRA r-eserves the right to review and/or, revise the above rating at any time on the basis ofnew information or unavailability of infurmation or such other circumstances, which ICRAbelieves, may have an impact on ih. ratin6; assigned to you.
should not be treated as a recommendation to buy, sell or1{ yor. Ttre Rating assigned to the Bank facility of Vouif there is any change in the size or structure ofitre Rated
t^Fo| coy4l|te rating definition please reJbr to ICRA website www.icra.in or ony of the ICRARating Publications
$,r"{Tel. :
CIN:
llt)* \cuo/otuu/ *40676500
ICRA
You are requested to furnish a-monthly 'No Default Statement (NDS), (in the format enclosed)on the first working day.of every monttr,-confirmini ine timetiness of payment of allobligations against the rated debt programme [interest and principal obligations for fund basedas well as obligations under t-oclgc for non-fund based f:acirity]. This is in accordance withrequirements prescribed in circular dated June 30, 2ol7 on 'Moniioring ana n"rie* of Ratingsby Credit Rating Agencies(CRAs)' issued by the Securities ano Exchange Board of India.
You are also requested to inform us forthrwith of any default or delay in the payment of interestandlor.principal against the rated debt programme, or any other debt instruments and/orboffowings of your company. Further, you are requested to keep us informed of any otherdevelopments that could have a direct i,r.indirect ilili; the debt servicing capability ofyour company, with such developmentsr including, but not limited ,o, ury fr-ojosut ro. ..-schedulement or postponement of ..puy,n.nt against any dues and/or debts of your companywith any lender(s) and/or investor(s).
we thank you for your kind co-operation extended during the course of the rating exercise.Please let us know if you need any clarifir;ation. ,
we look forward to further strengthenin€l our existing relationship and assure you of our bestservices.
With regards,
Yours sincerely,for ICRA Limited
[Rajeshwar BurlalAsst. Vice Presidentraj eshwar. burla@ icraind ia. com
[Nithya Debbadi]Senior Analystn ithya.debbadi@icraind ia.com
