Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Non Convertible Debentures (NCD) 329.64 ACUITE A | Stable | Reaffirmed -
Non Convertible Debentures (NCD) 349.57 Not Applicable | Withdrawn -
Total Outstanding 329.64 - -
Total Withdrawn 349.57 - -
 
Rating Rationale

Acuité has reaffirmed the long-term rating of ‘ACUITE A’ (read as ACUITE A) on the Rs. 329.64 Cr. non-convertible debentures of UGRO CAPITAL LIMITED (UGRO). The outlook is ‘Stable’.

Acuité has withdrawn the long-term rating on the Rs. 165.00 Cr. Principal Protected Market Linked Debentures without assigning any rating of UGRO CAPITAL LIMITED (UGRO). The withdrawal is on account of request received from client on redemption of the facility and in accordance with Acuite's policy on withdrawal of ratings  as applicable to the respective facility / instrument and No dues confirmation received from the debenture trustee.

Acuité has withdrawn the long-term rating on the Rs. 184.57 Cr. Non Convertible Debentures without assigning any rating  of UGRO CAPITAL LIMITED (UGRO). The withdrawal is on account of request received from client on redemption of the facility and in accordance with Acuite's policy on withdrawal of ratings  as applicable to the respective facility / instrument  and No dues confirmation received from the debenture trustee.

Rationale for rating:
The rating reaffirmation continues to take into account the sustained traction in the company’s business in FY2024 with the outstanding portfolio growing to about Rs. 9,047 Cr. as on March 31, 2024 (March 31, 2023: Rs. 6,081 Cr.). The rating further factors in the experienced management team supported by marquee investors. The capital adequacy ratio stood adequate at 20.75 percent as on March 31, 2024 as against 20.23 percent as on March 31, 2023. The gearing levels stood moderately at 3.24 times as on March 31, 2024 as compared to 3.20 times as on March 31, 2023. Additionally, Acuité takes cognizance of the equity infusion in FY2024 to the tune of Rs. 340 Cr. by new investors such as IFU (Denmark government arm) and other domestic investors which will further aid the capitalization levels. The rating also derives comfort from the business model, which is based on technology adoption at every stage, right from initial screening of the borrower to monitoring of the exposures at the post disbursal stage. 
However, the rating remains constrained by the subdued earning profile of UGRO as reflected by the low RoAA (PAT/Average AUM) of 1.58 percent as of March 31, 2024 and high operating costs at ~54 percent of UGRO’s total income (i.e. net interest income and other operating income) for FY24. The company reported its average cost of borrowings at 10.70 percent as on March 31, 2024 (P.Y 10.60 percent). Further, the provisioning cover for Stage 3 assets stood at ~48 percent as on March 31, 2024. UGRO reported a marginal decline in the on-time portfolio from 91.55 percent as on March 31, 2023 to 88.05 percent as on March 31, 2024 giving rise to delinquencies in the softer buckets.

About the company
­U­GRO was originally incorporated as Chokhani Securities Limited in 1993. It is a systemically important non-deposit taking non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI). In 2018, pursuant to a change in control and management, the company was renamed UGRO Capital Limited. UGRO's equity shares, commercial paper, and non-convertible debentures are listed on the Bombay Stock Exchange (BSE). The company's equity is also listed on the National Stock Exchange (NSE).
UGRO is headed by Mr. Shachindra Nath, a seasoned finance professional, with more than two decades of experience in the financial services sector. He is the Promoter, Vice Chairman and Managing Director of the company. UGRO is a Mumbai based company (registered office). It had 150 branches across the country as of March 31, 2024. UGRO lends to the MSME segment in nine specifically identified sectors i.e. Healthcare, Education, Chemicals, Food Processing/FMCG, Hospitality, Electrical Equipment’s and Components, Auto Components, Light Engineering and Micro-Enterprise segment. UGRO has built diversified distribution channels which consist of a Branch led channel, an Ecosystem consisting of Supply Chain & Machinery Finance, Partnerships & Alliances for Co-lending with smaller NBFCs & FinTechs & Digital Channel.
 
Unsupported Rating
­Not Applicable
 
Analytical Approach
­Acuité has considered the standalone financial and business risk profile of UGRO to arrive at the rating
 
Key Rating Drivers

Strength
Experienced management team supported by marquee investors
UGRO commenced lending operations in 2019 with a focus on lending to the Micro Small and Medium Enterprises (MSME) segment. The company is headed by Vice Chairman and Managing Director, Mr. Shachindra Nath. Mr. Nath has over two decades of experience in BFSI across the insurance, asset management, lending and capital markets sectors. The company is supervised by a majority Independent Board consisting of experienced professional drawn from different background. The other members of the senior management team have experience of around two decades in BFSI sector. UGRO’s investors include private equity players, insurance companies and family offices. The institutional investors include ADV Partners, NewQuest Asia Investments III Limited, PAG (PE firm with a focus on the AsiaPacific region), Samena Capital (a MENA focused PE investment group). In addition to the Private Equity Investors UGRO raised money through QIP and Private Placements from domestic AIFs, Insurance Companies, Family Offices. These investors have infused capital of ~Rs. 650 Cr. in FY2019 and ~Rs. 240 Cr. in FY2020. In FY2024, the company raised equity capital to the tune of Rs. 340 Cr. from new investors such as IFU (Denmark government arm) and other domestic institutions. The company has announced and approved equity raise of Rs 1,332 Cr. in FY2025 in the form of CCD and share warrants and has already raised Rs 510 Cr. in June 2024. The ability to attract capital from a diverse set of investors points to the credibility of the top management team. It also reflects confidence in the business model and strategy. UGRO’s net worth stood at Rs. 1438.36 Cr. as on March 31, 2024 as compared to Rs. 984.04 Cr. as on March 31, 2023. The capital adequacy ratio stood at 20.75 percent as on March 31, 2024 as compared to 20.24 percent on March 31, 2023. The gearing levels stood moderately at 3.24 times as on March 31, 2024 as compared to 3.20 times on March 31, 2023.
Acuité believes, that the experienced management team, presence of marquee investors and adequate capitalisation levels on account of recent infusion will support UGRO’s fund raising plans over the near to medium term.

Business model based on high level of digitization and adherence to predefined policies
UGRO’s business model is based on technology adoption at each and every stage, right from initial screening of the borrower to monitoring of the exposures, at the post disbursal stage. UGRO’s average ticket size is Rs. 15 lacs, with a maximum single party exposure of ~Rs. 5 Cr. Hence, the portfolio is expected to be granular in nature and have a high degree of technological support for effective monitoring. UGRO’s target clientele are MSME units from nine identified sectors, which are Healthcare, Education, Chemicals, Food Processing/FMCG, Hospitality, Electrical Equipment’s and Components, Auto Components, Light Engineering and Micro Enterprise Segment. UGRO has identified these sectors through an indepth study and recommendations from external advisory agencies. UGRO divides these sectors into multiple sub – sectors and approaches them with the concept of an eco system around them.
The credit underwriting process and platforms are designed to ensure a quick turnaround, without compromising on quality of the loan appraised. The company has credit tools such as scorecards, which help in arriving at the credit decision. The management has developed detailed questionnaires for each sub segment, which help in identifying the key credit issues and sharpening the quality of credit decision.
The systems and processes are evaluated and reviewed from time to time to improve their efficacy in the credit process. The company has put in place safeguards to minimize the possibility of dilution of these processes. These include clauses in the Article of Association such as the right of appointment/termination of key managerial personnel directly to the board and ensuring granularity of the portfolio with loans of more than 1 per cent of its Net Worth or to any related party requiring majority board approval and a unanimous consent of its Asset Liability Committee.
Acuité believes that while adherence to stringent underwriting standards may impact the pace of growth of UGRO, it will aid UGRO in maintaining its asset quality in a steady operating environment.

Strong and sustained business growth
The company witnessed strong and sustained traction in its business in FY2023 with its outstanding portfolio growing to about Rs. 9,047 Cr. as on March 31, 2024 (March 31, 2023: Rs. 6,081 Cr). In terms of distribution channel wise, disbursals picked up across all the channels viz. branch-led, partnership and alliances (including co-origination arrangements with NBFCs and loans to NBFCs for onward lending), ecosystem channel (machinery loans and supply chain finance) and pools buyout out from other NBFCs. For FY23, total gross disbursements stood at Rs. 10,217 Cr. (FY23 : Rs. 7,204 Cr.). Out of the total disbursements in FY24, ~40 percent were towards Supply Chain financing­

Weakness
Moderate earnings profile
The company reported a PAT of Rs. 119.34 Cr. for FY2024 with PBT level of Rs 178.76 Cr. as compared to PAT of Rs. 39.78 Cr. and PBT of Rs 83.83 Cr. in FY2023. Acuité takes note of the sustained pressure on the earnings profile reflected by the annualized RoAA (PAT/Average AUM) of 1.58 percent for FY24 and high operating costs at ~54 percent of UGRO’s total income (i.e. net interest income and other operating income) for the same period. The opex to earning assets moderated to 5.87 percent in FY24 from 6.03 percent in FY23. Acuité believes the ability of the company to scale up the business while mitigating profitability pressures will remain a key monitorable.
UGRO's outstanding debt stood at Rs. 4,654 Cr. as on March 31, 2024. The company has a diversified exposure to over 56 lenders including private sector banks, public banks, NCDs, and access to funding via direct assignment and securitization transactions and term loans from other financial institutions. The company reported their average cost of borrowings at 10.70 percent as on March 31, 2024 as against 10.60 percent in previous year.

Moderate asset quality
UGRO’s on book GNPA stood at 3.09 percent as on March 31, 2024 as against 2.46 percent as on March 31, 2023.  The company’s restructured portfolio constitutes Rs. 41.50 Cr. (0.46 percent of the AUM) as on March 31, 2024 (1.52 percent of the AUM as on March 31, 2023). Majority of the restructuring was done in the Branch Led Portfolio within the Education & Hospitality sector. Acuité also takes note of the provisioning cover for Stage 3 assets at ~48 percent as on March 31, 2024 which remains moderate. UGRO reported marginal decline in the on-time portfolio for from 91.55 percent as on March 31, 2023 to 88.05 percent as on March 31, 2024 giving rise to delinquencies in the softer buckets.
ESG Factors Relevant for Rating
­UGRO belongs to the NBFC sector which complements bank lending in India. Some of the material governance issues for the financial services sector are policies and practices with regard to business ethics, board diversity and independence, compensation structure for board and KMPs, role of the audit committee and shareholders’ rights. On the social aspect, some of the critical issues for the sector are the contributions to financial inclusion and social development, responsible financing including environmentally friendly projects and policies around data privacy. The industry, by nature has a low exposure to environmental risks.
UGRO primarily lends to small businesses where access to funds is a challenge. The company proposes to facilitate financial inclusion and growth for MSMEs through secured or unsecured loans as well as supply chain finance. It is important for UGRO to assess the sustainability factors mainly related to environment, social and corporate governance practices for its lending portfolio. It has a well-articulated CSR policy and Smile Foundation, working under the ambit of UGRO, monitors the CSR activities of the company.
The company has adequate corporate governance policies on whistle blower programme and related party transactions; it has made adequate disclosures related to board and management compensation and outlines the policies related to diversity and ethical business practices in its code of conduct. UGRO’s board comprises of 6 Independent Directors, which is more than 50 percent of the total board members.
 
Rating Sensitivity
­
  • Timely infusion of capital and its impact on the capital structure and gearing levels
  • Movement in Cost of borrowing and maintenance of adequate liquidity
  • Deviation in actual financial performance v/s company shared projections and profitability indicators to be tracked through RoAA and PPoP levels
  • Movement in collection efficiency and provision covera
 
Liquidity Position
Adequate
The company has the flexibility to raise funds through securitisation transactions. As per the asset liability management (ALM) statement dated March 31 2024, UGRO has no negative cumulative mismatches in upto 6 months bucket. The company has cash and bank balance of about Rs. 454.88 Cr. as on March 31, 2024 and has sanctions of Rs 150 Cr.  available as on March 31, 2024.
 
Outlook: Stable
­­Acuité expects UGRO to maintain ‘Stable’ outlook over the near to medium term on account of experienced management team supported by marquee investors. The outlook may be revised to ‘Positive’ in case UGRO is able to contain asset quality risks within reasonable levels and sustain improving profitability parameters while scaling up its operations. Conversely, the outlook may be revised to ‘Negative’ in case of any challenges in scaling up of AUM or in case of any sharp deterioration in asset quality and profitability levels.
 
Other Factors affecting Rating
­None
 
Key Financials - Standalone / Originator
­
Particulars Unit FY24 (Actual) FY23 (Actual)
Total Assets Rs. Cr. 6277.02 4280.11
Total Income* Rs. Cr. 638.76 390.49
PAT Rs. Cr. 119.34 39.78
Net Worth Rs. Cr. 1438.36 984.04
Return on Average Assets (RoAA)** (%) 2.26 1.12
Return on Average Net Worth (RoNW) (%) 9.85 4.08
Debt/Equity Times 3.24 3.20
Gross NPA (%) 3.09 2.46
Net NPA (%) 1.64 1.31
*Total income equals to Net Interest Income plus other income
**As per Acuité calculations; RoAA based on On balance sheet portfolio
 
Status of non-cooperation with previous CRA (if applicable):
­Not Applicable
 
Any other information
None­
 
Applicable Criteria
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm
• Covered Bonds: https://www.acuite.in/view-rating-criteria-83.htm
• Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm
• Explicit Credit Enhancements: https://www.acuite.in/view-rating-criteria-49.htm
• Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.htm
Note on complexity levels of the rated instrument
­­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuité’s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in
 

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
06 Jul 2023 Term Loan Long Term 10.00 ACUITE A (Reaffirmed & Withdrawn)
Secured Retail Non-Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 44.44 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 25.38 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 50.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.40 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 7.80 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 44.01 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 46.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 26.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 39.17 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 11.55 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 49.28 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE Not Applicable (Withdrawn)
Principal protected market linked debentures Long Term 15.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE Not Applicable (Withdrawn)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA- (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 130.00 ACUITE PP-MLD A | Stable (Reaffirmed)
27 Mar 2023 Term Loan Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 18.75 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 68.75 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 15.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 50.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 20.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 50.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 19.44 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 30.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 40.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 16.11 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 35.15 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 8.75 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 45.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 43.34 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 35.02 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 24.83 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 16.66 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 30.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 23.05 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 23.75 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 18.33 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 18.00 ACUITE Not Applicable (Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 22.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 1.20 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 6.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 28.88 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 18.89 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 10.55 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 8.75 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 15.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 6.03 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 20.95 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 15.00 ACUITE A (Reaffirmed & Withdrawn)
Term Loan Long Term 22.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 44.44 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A (Reaffirmed & Withdrawn)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA- (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 130.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA- (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 15.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 25.00 ACUITE Not Applicable (Withdrawn)
Proposed Commercial Paper Program Short Term 50.00 ACUITE Not Applicable (Withdrawn)
Proposed Long Term Loan Long Term 332.96 ACUITE Not Applicable (Withdrawn)
Proposed Non Convertible Debentures Long Term 13.64 ACUITE Not Applicable (Withdrawn)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE Not Applicable (Withdrawn)
Proposed principal protected market linked debentures Long Term 5.00 ACUITE Not Applicable (Withdrawn)
Secured Overdraft Long Term 31.68 ACUITE A (Reaffirmed & Withdrawn)
Secured Overdraft Long Term 45.00 ACUITE A (Reaffirmed & Withdrawn)
Secured Overdraft Long Term 25.00 ACUITE A (Reaffirmed & Withdrawn)
Secured Overdraft Long Term 1.00 ACUITE A (Reaffirmed & Withdrawn)
Secured Overdraft Long Term 10.00 ACUITE A (Reaffirmed & Withdrawn)
Secured Overdraft Long Term 1.00 ACUITE A (Reaffirmed & Withdrawn)
Secured Retail Non-Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 30.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 25.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 25.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 25.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 15.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 30.00 ACUITE Not Applicable (Withdrawn)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE Not Applicable (Withdrawn)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE Not Applicable (Withdrawn)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE Not Applicable (Withdrawn)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 10.00 ACUITE Not Applicable (Withdrawn)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.40 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 7.80 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 44.01 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE Not Applicable (Withdrawn)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 46.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 26.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 39.17 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 11.55 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 49.28 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A (Reaffirmed & Withdrawn)
21 Feb 2023 Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.40 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 7.80 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 44.01 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 45.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 31.68 ACUITE A | Stable (Reaffirmed)
Proposed Secured Non-Convertible Debentures Long Term 120.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 17.79 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 332.96 ACUITE A | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 20.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1 (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1 (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA- (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE Not Applicable (Withdrawn)
Principal protected market linked debentures Long Term 20.00 ACUITE Not Applicable (Withdrawn)
Principal protected market linked debentures Long Term 20.00 ACUITE Not Applicable (Withdrawn)
Principal protected market linked debentures Long Term 130.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA- (CE) | Stable (Reaffirmed)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 35.02 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 16.66 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 23.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.33 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 44.44 ACUITE A | Stable (Reaffirmed)
Secured Retail Non-Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 19.44 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 16.11 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 23.05 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 68.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.55 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 1.20 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 28.88 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
20 Dec 2022 Commercial Paper Program Short Term 30.00 ACUITE A1 (Downgraded from ACUITE A1+)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Downgraded from ACUITE A1+)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Downgraded from ACUITE A1+)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Downgraded from ACUITE A1+)
Commercial Paper Program Short Term 15.00 ACUITE A1 (Downgraded from ACUITE A1+)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Downgraded from ACUITE A1+)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Downgraded from ACUITE A1+)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Downgraded from ACUITE A1+)
Non-Covertible Debentures (NCD) Long Term 7.80 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 20.40 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non-Covertible Debentures (NCD) Long Term 44.01 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Cash Credit Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Principal protected market linked debentures Long Term 130.00 ACUITE PP-MLD A | Stable (Downgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA- (CE) | Stable (Downgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA- (CE) | Stable (Downgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA- (CE) | Stable (Downgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA- (CE) | Stable (Downgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA- (CE) | Stable (Downgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1 (Downgraded from ACUITE A1+)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1 (Downgraded from ACUITE A1+)
Proposed Market Linked Debentures Long Term 20.00 ACUITE PP-MLD A | Stable (Downgraded from ACUITE PP-MLD A+ | Stable)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Non Convertible Debentures Long Term 17.79 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Long Term Loan Long Term 332.96 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Secured Non-Convertible Debentures Long Term 120.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 31.68 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 45.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 30.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 23.05 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 18.75 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 68.75 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 15.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 20.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 19.44 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 30.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 40.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 16.11 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 23.75 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 18.33 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.38 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 3.33 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 6.03 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 20.95 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 15.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 35.15 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 8.75 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 45.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 43.34 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 35.02 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 22.03 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 24.83 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 16.66 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 18.89 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 28.88 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 10.55 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 8.75 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 15.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 44.44 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 18.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 1.20 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 6.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 22.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Retail Non-Convertible Debentures Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
22 Aug 2022 Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.40 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 7.80 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 44.01 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1+ (Reaffirmed)
Secured Overdraft Long Term 10.00 ACUITE A+ | Stable (Assigned)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 31.68 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 45.00 ACUITE A+ | Stable (Assigned)
Secured Overdraft Long Term 25.00 ACUITE A+ | Stable (Assigned)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Secured Non-Convertible Debentures Long Term 120.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 75.00 ACUITE PP-MLD A+ | Stable (Assigned)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 20.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 332.96 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 17.79 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1+ (Reaffirmed)
Principal protected market linked debentures Long Term 30.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A+ | Stable (Assigned)
Working Capital Demand Loan (WCDL) Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Secured Retail Non-Convertible Debentures Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.38 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 23.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.33 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 44.44 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 19.44 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 40.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 16.11 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 23.05 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 68.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 50.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 1.20 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 6.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 28.88 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 10.55 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 35.02 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 16.66 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
19 May 2022 Commercial Paper Program Short Term 10.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.40 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 7.80 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 44.01 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1+ (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 17.79 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 0.20 ACUITE A+ | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 455.77 ACUITE A+ | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 150.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 50.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A+ | Stable (Reaffirmed)
04 Mar 2022 Term Loan Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 200.00 ACUITE A+ | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 150.00 ACUITE A+ | Stable (Assigned)
Proposed Long Term Loan Long Term 455.77 ACUITE A+ | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 0.20 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1+ (Assigned)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1+ (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1+ (Reaffirmed)
24 Feb 2022 Commercial Paper Program Short Term 10.00 ACUITE A1+ (Upgraded from ACUITE A1)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Upgraded from ACUITE A1)
Commercial Paper Program Short Term 15.00 ACUITE A1+ (Upgraded from ACUITE A1)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Upgraded from ACUITE A1)
Commercial Paper Program Short Term 20.00 ACUITE A1+ (Upgraded from ACUITE A1)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Upgraded from ACUITE A1)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Upgraded from ACUITE A1)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Upgraded from ACUITE A1)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Upgraded from ACUITE A1)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Non Convertible Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Term Loan Long Term 43.34 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 22.03 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 22.86 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 35.15 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 16.67 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 18.89 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Term Loan Long Term 20.00 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Term Loan Long Term 4.58 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Term Loan Long Term 24.83 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 20.95 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 455.77 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 5.00 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Term Loan Long Term 45.00 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Term Loan Long Term 8.75 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 0.20 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Proposed Term Loan Long Term 6.03 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 8.00 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Term Loan Long Term 90.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 22.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 46.87 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Upgraded from ACUITE PP-MLD AA+ (CE) | Stable)
Term Loan Long Term 40.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
09 Dec 2021 Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A | Positive (Assigned)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 25.00 ACUITE PP-MLD A | Positive (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
30 Nov 2021 Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 75.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 50.00 ACUITE A1 (Assigned)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Commercial Paper Program Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 25.00 ACUITE PP-MLD A | Positive (Assigned)
28 Oct 2021 Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE Provisional BBB- | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Proposed Long Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Proposed Long Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 90.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 75.00 ACUITE A1 (Assigned)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
11 Oct 2021 Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 65.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Assigned)
Proposed Long Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Proposed Long Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 150.00 ACUITE A (Reaffirmed & Withdrawn)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
24 Sep 2021 Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 150.00 ACUITE A | Positive (Assigned)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Proposed Long Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Proposed Long Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Proposed Commercial Paper Program Short Term 65.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Withdrawn)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
21 Sep 2021 Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 30.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Proposed Long Term Loan Long Term 455.77 ACUITE A (Reaffirmed)
Proposed Long Term Loan Long Term 0.20 ACUITE A (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 0.30 ACUITE A (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 10.00 ACUITE A (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A (Reaffirmed)
02 Sep 2021 Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Assigned)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 592.77 ACUITE A | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 0.20 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
26 Aug 2021 Proposed Non Convertible Debentures Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 592.77 ACUITE A | Stable (Assigned)
Proposed Long Term Loan Long Term 0.20 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Assigned)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 25.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 20.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 24.83 ACUITE A | Stable (Assigned)
Term Loan Long Term 22.03 ACUITE A | Stable (Assigned)
Term Loan Long Term 46.87 ACUITE A | Stable (Assigned)
Term Loan Long Term 43.34 ACUITE A | Stable (Assigned)
Term Loan Long Term 45.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 8.75 ACUITE A | Stable (Assigned)
Term Loan Long Term 35.15 ACUITE A | Stable (Assigned)
Term Loan Long Term 25.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 25.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 20.95 ACUITE A | Stable (Assigned)
Term Loan Long Term 6.03 ACUITE A | Stable (Assigned)
Term Loan Long Term 22.86 ACUITE A | Stable (Assigned)
Term Loan Long Term 8.75 ACUITE A | Stable (Assigned)
Term Loan Long Term 16.67 ACUITE A | Stable (Assigned)
Term Loan Long Term 18.89 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Stable (Reaffirmed)
11 Aug 2021 Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE PP-MLD AA+ (CE) | Stable (Assigned)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
05 Aug 2021 Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Assigned)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE Provisional PP-MLD AA+ (CE) (Reaffirmed & Withdrawn)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
22 Jul 2021 Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Assigned)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
09 Jul 2021 Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 30.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Assigned)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
28 May 2021 Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 0.30 ACUITE Provisional PP-MLD AA+ (CE) (Reaffirmed & Withdrawn)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE PP-MLD AA+ (CE) | Stable (Assigned)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
21 May 2021 Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 20.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 0.30 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
05 May 2021 Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 0.30 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 29.70 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Assigned)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
28 Apr 2021 Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non-Covertible Debentures (NCD) Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 30.00 ACUITE Provisional PP-MLD AA+ (CE) | Stable (Assigned)
Proposed Long Term Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)		 Complexity Level Rating
Not Applicable INE583D07109 Non-Convertible Debentures (NCD) 26 Mar 2021 11.55 31 Dec 2024 25.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D08024 Non-Convertible Debentures (NCD) 17 Mar 2022 11.50 31 Dec 2024 10.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07232 Non-Convertible Debentures (NCD) 29 Mar 2022 11.70 29 May 2025 50.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07257 Non-Convertible Debentures (NCD) 05 May 2022 10.15 05 Aug 2024 7.80 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07265 Non-Convertible Debentures (NCD) 05 May 2022 10.40 05 May 2025 44.01 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07190 Non-Convertible Debentures (NCD) 17 Dec 2021 11.30 17 Dec 2027 46.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07208 Non-Convertible Debentures (NCD) 29 Dec 2021 11.30 29 Dec 2027 26.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07216 Non-Convertible Debentures (NCD) 12 Jan 2022 11.30 12 Jan 2028 35.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07224 Non-Convertible Debentures (NCD) 19 Jan 2022 10.25 19 Jan 2025 25.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07307 Non-Convertible Debentures (NCD) 26 Sep 2022 10.35 26 Dec 2024 11.55 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07315 Non-Convertible Debentures (NCD) 26 Sep 2022 10.50 26 Sep 2025 49.28 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07174 Non-Convertible Debentures (NCD) 16 Nov 2021 10.00 16 Feb 2024 50.00 Simple Not Applicable|Withdrawn
Not Applicable INE583D07299 Non-Convertible Debentures (NCD) 28 Sep 2022 10.15 28 Mar 2024 39.17 Simple Not Applicable|Withdrawn
Not Applicable INE583D07026 Non-Convertible Debentures (NCD) 08 Jun 2020 10.00 08 Jun 2023 50.00 Simple Not Applicable|Withdrawn
Not Applicable INE583D07240 Non-Convertible Debentures (NCD) 05 May 2022 10.00 04 Nov 2023 20.40 Simple Not Applicable|Withdrawn
Not Applicable INE583D07158 Principal protected market linked debentures 31 Aug 2021 9.10 05 Sep 2023 20.00 Complex Not Applicable|Withdrawn
Not Applicable INE583D07273 Principal protected market linked debentures 23 May 2022 Not avl. / Not appl. 23 Jan 2024 130.00 Complex Not Applicable|Withdrawn
Not Applicable INE583D07182 Principal protected market linked debentures 30 Nov 2021 9.25 30 May 2023 15.00 Complex Not Applicable|Withdrawn
Not Applicable INE583D07281 Secured Retail Non-Convertible Debentures 15 Jul 2022 Not avl. / Not appl. 15 Oct 2023 25.00 Simple Not Applicable|Withdrawn

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