INDIA BUSINESS WORLD - March 16^th - March 31^st - 2008

DLF GETS AA RATING FROM CRISIL FOR NON-CONVERTIBLE DEBENTURES

Rating agency Crisil has assigned 'AA' to DLF’s Rs 5,000 crore non convertible debentures besides assigning 'P1+' rating to company's Rs 3,000 crore short-term debt, according to a statement released by DLF, India’s largest real estate developer. Crisil has also assigned 'AA' rating to the company's Rs 6,791 crore term loans with a stable outlook. On the Crisil rating, DLF said this was the highest rating received by any real estate company in the world. The ratings are driven by the company's strong business profile, robust financial profile, conservative financial policy and significant financial flexibility, the company statement said.