Credit rating

Instrument Type India Ratings
Rating Type Rating
Issuer rating Long-term IND AA-/Negative
Non-convertible debentures# Long-term IND AA-/Negative
Term loans Long-term IND AA-/Negative
Fund-based working capital limits Long-/short-term IND AA-/Negative/IND A1+
Non-fund-based working capital limits Short-term IND A1+
Commercial paper* Short-term IND A1+

* Carved out of fund based working capital limits

Note : Ratings by various agencies are subject to regular revisions. Kindly refer to the respective agencies for the latest ratings


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