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Credit Ratings

Latest credit ratings for our debt instruments and bank facilities, as assigned by leading rating agencies.

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Credit Ratings Overview

The following table summarizes the credit ratings assigned to our debt instruments and bank facilities by India Ratings and ICRA Ratings. Ratings are subject to periodic revisions. Please refer to the respective agency for the latest ratings.

Rating AgencyInstrument / IssuerAmount (INR Million)Rating
India RatingsNon-convertible debentures (NCDs)*6,000.00IND A/(Stable)
India RatingsNCDs*13,084.5 (reduced from 14,291.6)IND A/(Stable)
India RatingsLong-term bank loans3,000.00IND A/(Stable)
India RatingsLong-term bank loans7,000IND A/(Stable)
India RatingsCommercial papers (CP)500.00IND A1 (Stable)
India RatingsPrincipal protected market-linked debentures (PP-MLD)*50.00ND PP-MLD A/Stable
ICRA RatingsLong term Bank facilities500.00[ICRA]A (Stable)
Ratings are subject to periodic revisions. Please refer to the respective agency for latest ratings.

Need More Information?

For questions about our credit ratings or to request official rating letters, please contact our investor relations team.