Ratings Not Reviewed

The table below contains the details of the rated entities where there is a delay in periodic review of ratings. As more than 12 months have lapsed since the last rating, BWR hereby informs that it has not been possible to review the rating of these entities within the stipulated time, mainly due to non-receipt/delay in submission of essential information required for review from these rated entities. If these entities continue to delay in providing the essential information, BWR will act suitably in accordance with the extant regulatory guidelines. This disclosure should not be construed as a rating reaffirmation.