Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 201.85 ACUITE A | Reaffirmed & Withdrawn -
Non Convertible Debentures (NCD) 514.21 ACUITE A | Stable | Reaffirmed -
Non Convertible Debentures (NCD) 50.00 Not Applicable | Withdrawn -
Non Convertible Debentures (NCD) 145.00 PP-MLD | ACUITE A | Stable | Reaffirmed -
Non Convertible Debentures (NCD) 20.00 PP-MLD | ACUITE AA- | CE | Stable | Reaffirmed -
Commercial Paper (CP) 20.00 - Not Applicable | Withdrawn
Total Outstanding Quantum (Rs. Cr) 679.21 - -
Total Withdrawn Quantum (Rs. Cr) 271.85 - -
 
Rating Rationale
Acuité has reaffirmed and withdrawn the long-term rating of ‘ACUITE A’ (read as ACUITE A) on the Rs. 201.85 Cr. bank loan facilities of UGRO CAPITAL LIMITED (UGRO). The withdrawal is on account of request received from company, NOC's recieved from the lenders and in accordance with Acuite's policy on withdrawal of ratings.

Acuité has reaffirmed the long-term rating of ‘ACUITE A’ (read as ACUITE A) on the Rs. 514.21 Cr. non-convertible debentures of UGRO CAPITAL LIMITED (UGRO). The outlook is ‘Stable’.

Acuité has withdrawn the long-term rating on the Rs. 50.00 Cr. Principal Protected Market Linked Debentures 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.

Acuité has reaffirmed the long-term rating of ‘PP-MLD ACUITE A’ (read as Principal Protected Market Linked Debentures ACUITE A) on the Rs.145.00 Cr. principal protected market linked debentures of UGRO CAPITAL LIMITED (UGRO). The outlook is ‘Stable’.

Acuité has reaffirmed the long-term rating ‘ACUITE PP-MLD AA-(CE)’ (read as ACUITE Principal Protected Market Linked Debentures double A minus (Credit Enhancement)) on the Rs. 20.00 Cr. principal protected market linked debentures of UGRO CAPITAL LIMITED (UGRO). The outlook is ‘Stable’.

Acuité has withdrawn the short-term rating on the Rs. 20.00 Cr. commercial paper program of UGRO CAPITAL LIMITED (UGRO). The withdrawal is on account of request received from client on redemption of CPs and in accordance with Acuite's policy on withdrawal of ratings.

Rating rationale for ACUITE PP-MLD AA-(CE) rated principal protected market linked debentures:
The rating takes into account the comfort of dual recourse to the investors. The debt servicing to the investors is supported by regular cash flows of UGRO and the presence of a cover pool to support the servicing of the NCDs in the event of non-payment by UGRO.

Rationale for reaffirmation:
The rating reaffirmation continues to take into account the strong and sustained traction in the company’s business in FY2023 with the outstanding portfolio growing to about Rs. 6,081 Cr. as on March 31, 2023 (March 31, 2022: Rs. 2,969 Cr.; March 31, 2021: Rs. 1,317 Cr.). The rating further factors in the experienced management team supported by marquee investors. The capital adequacy ratio stood adequate at 20 percent as on March 31, 2023 as against 34 percent as on March 31, 2022. The gearing levels stood moderately at 3.20 times as on March 31, 2023 as compared to 1.86 times as on March 31, 2022. Additionally, Acuité takes cognizance of the equity infusion in Q1FY24 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 0.88 percent as of March 31, 2023 and high operating costs at ~62 percent of UGRO’s total income (i.e. net interest income and other operating income) for FY23. The rating also factors in continuous challenge faced by UGRO in bringing down the cost of borrowings. The company reported its average cost of borrowings at 10.60 percent as on March 31, 2023. Further, the provisioning cover for Stage 3 assets stood at 47.86 percent as on March 31, 2023. UGRO reported a marginal decline in the on-time portfolio from 93.31 percent as on March 31, 2022 to 91.55 percent as on March 31, 2023 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, Executive Vice Chairman and Managing Director of the company. UGRO is a Mumbai based company (registered office). It had more than 95 branches across the country as of March 31, 2023. 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.
 
Standalone (Unsupported) Rating
­ACUITE A/Stable 
 
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 Q1FY24, 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 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. 984 Cr as on March 31, 2023 as compared to Rs. 966 Cr. as on March 31, 2022. The capital adequacy ratio stood at 20 percent as on March 31, 2023 as compared to 34 percent on March 31, 2022. The gearing levels stood moderately at 3.20 times as on March 31, 2023 as compared to 1.86 times on March 31, 2022.
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 maintainingits 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. 6,081 Cr. as on March 31, 2023 (March 31, 2022: Rs. 2,969 Cr.; March 31, 2021: Rs. 1,317 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 disbursements stood at Rs. 7,208 Cr. (FY22 : Rs. 3,138 Cr.). Out of the total disbursements in FY23, ~29 percent were towards Supply Chain financing.
Weakness
­Moderate earnings profile; relatively high cost of funds
The company reported a PAT of Rs. 39.78 Cr. for FY2023 as compared to Rs. 14.55 Cr. for FY2022. (Rs. 28.73 Cr. for FY21). At a PBT level, the profits stood at Rs. 83.83 Cr. for FY23. Acuité takes note of the sustained pressure on the earnings profile reflected by the annualized RoAA (PAT/Average AUM) of 0.88 percent for FY23 and high operating costs at ~62 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 6.30 percent in FY23 from 4.78 percent in FY22. 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. 3,149 Cr. as on March 31, 2023. The company has a diversified exposure to over 65 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. However, Acuité takes note of the continuous challenge faced by UGRO in bringing down the cost of borrowings. The company reported their average cost of borrowings at 10.60 percent as on March 31, 2023.

Moderate improvement in asset quality
UGRO’s on book GNPA stood at 2.46 percent as on March 31, 2023 as against 2.30 percent as on March 31, 2022.  The company’s restructured portfolio constitutes Rs. 92.7 Cr. (1.31 percent of the AUM) as on March 31, 2023 (4.54 percent of the AUM as on March 31, 2022). 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 47.86 percent as on March 31, 2023 which remains moderate. UGRO reported marginal decline in the on-time portfolio for from 93.31 percent as on March 31, 2022 to 91.55 percent as on March 31, 2023 giving rise to delinquencies in the softer buckets.
Assessment of Adequacy of Credit Enhancement
­The ACUITE PP-MLD AA-(CE) debentures shall be backed by an unconditional and irrevocable guarantee provided by the Trust. Further, the servicing of the debentures is supported by the internal accruals of UGRO and the guarantee provided by the Trust to which UGRO shall assign the pool with minimum cover of more than 1x of the MLD amount outstanding (including accrued unpaid interest). The guarantee shall be invoked on the occurrence of predefined trigger events.
 
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 coverage
 
Material Covenants
­­UGRO is subject to covenants stipulated by its lenders/investors in respect of various parameters like capital structure, asset quality, among others.
 
Liquidity Position
Adequate
­For ACUITE PP-MLD AA-(CE): Adequate
The principal and interest on the PP-MLD are to be paid by the issuer on the final legal maturity date. The cash flows from the pool shall be utilised in case of occurrence of the trigger events.

For unsupported rating ACUITE A: Adequate
 The company has the flexibility to raise funds through securitisation transactions. As per the asset liability management (ALM) statement dated March 31 2023, UGRO has no negative cumulative mismatches in upto 6 months bucket. The company has cash and bank balance of about Rs. 275.8 Cr. as on May 31, 2023.
 
Outlook:
­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 FY23 (Actual) FY22 (Actual)
Total Assets Rs. Cr. 4280.11 2810.41
Total Income* Rs. Cr. 390.49 176.00
PAT Rs. Cr. 39.78 14.55
Net Worth Rs. Cr. 984.04 966.56
Return on Average Assets (RoAA) (%) 1.12 0.64
Return on Average Net Worth (RoNW) (%) 4.08 1.52
Debt/Equity Times 3.20 1.86
Gross NPA (%) 2.46 2.30
Net NPA (%) 1.31 1.70
*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
• Commercial Paper: https://www.acuite.in/view-rating-criteria-54.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
27 Mar 2023 Term Loan Long Term 18.00 (Withdrawn)
Non Convertible Debentures Long Term 49.28 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 25.00 (Withdrawn)
Term Loan Long Term 50.00 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 15.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Term Loan Long Term 35.02 ACUITE A (Withdrawn)
Term Loan Long Term 25.38 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 23.05 ACUITE A (Withdrawn)
Term Loan Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A (Withdrawn)
Term Loan Long Term 6.03 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 (Withdrawn)
Term Loan Long Term 18.33 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 (Withdrawn)
Term Loan Long Term 18.89 ACUITE A (Withdrawn)
Term Loan Long Term 15.00 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 (Withdrawn)
Term Loan Long Term 20.95 ACUITE A (Withdrawn)
Term Loan Long Term 28.88 ACUITE A (Withdrawn)
Commercial Paper Program Short Term 10.00 (Withdrawn)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA-(CE) | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A (Withdrawn)
Commercial Paper Program Short Term 25.00 (Withdrawn)
Non Convertible Debentures Long Term 20.40 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 130.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A (Withdrawn)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA-(CE) | Stable (Reaffirmed)
Term Loan Long Term 44.44 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 68.75 ACUITE A (Withdrawn)
Term Loan Long Term 30.00 ACUITE A (Withdrawn)
Commercial Paper Program Short Term 25.00 (Withdrawn)
Secured Overdraft Long Term 25.00 ACUITE A (Withdrawn)
Term Loan Long Term 22.03 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 11.55 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A (Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Withdrawn)
Term Loan Long Term 23.75 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 7.80 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 31.68 ACUITE A (Withdrawn)
Proposed Non Convertible Debentures Long Term 5.00 (Withdrawn)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 1.20 ACUITE A (Withdrawn)
Proposed Non Convertible Debentures Long Term 13.64 (Withdrawn)
Term Loan Long Term 8.75 ACUITE A (Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 10.00 (Withdrawn)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A (Withdrawn)
Working Capital Demand Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 35.00 (Withdrawn)
Commercial Paper Program Short Term 30.00 (Withdrawn)
Secured Overdraft Long Term 10.00 ACUITE A (Withdrawn)
Term Loan Long Term 24.83 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 39.17 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A (Withdrawn)
Term Loan Long Term 40.00 ACUITE A (Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Withdrawn)
Working Capital Demand Loan Long Term 25.00 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 50.00 (Withdrawn)
Term Loan Long Term 16.11 ACUITE A (Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Withdrawn)
Term Loan Long Term 16.66 ACUITE A (Withdrawn)
Term Loan Long Term 25.00 ACUITE A (Withdrawn)
Commercial Paper Program Short Term 15.00 (Withdrawn)
Non Convertible Debentures Long Term 20.00 (Withdrawn)
Term Loan Long Term 18.75 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 44.01 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A (Withdrawn)
Term Loan Long Term 45.00 ACUITE A (Withdrawn)
Term Loan Long Term 50.00 ACUITE A (Withdrawn)
Secured Overdraft Long Term 45.00 ACUITE A (Withdrawn)
Term Loan Long Term 10.55 ACUITE A (Withdrawn)
Term Loan Long Term 6.00 ACUITE A (Withdrawn)
Term Loan Long Term 15.00 ACUITE A (Withdrawn)
Term Loan Long Term 15.00 ACUITE A (Withdrawn)
Non Convertible Debentures Long Term 46.00 ACUITE A | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 332.96 (Withdrawn)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 50.00 (Withdrawn)
Commercial Paper Program Short Term 30.00 (Withdrawn)
Proposed Non Convertible Debentures Long Term 65.00 (Withdrawn)
Cash Credit Long Term 10.00 ACUITE A (Withdrawn)
Term Loan Long Term 19.44 ACUITE A (Withdrawn)
Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 26.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A (Withdrawn)
21 Feb 2023 Secured Overdraft Long Term 31.68 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.33 ACUITE A | Stable (Reaffirmed)
Proposed Principal Protected Market Linked Debentures Long Term 20.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Term Loan Long Term 16.11 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 68.75 ACUITE A | Stable (Reaffirmed)
Principal Protected Market Linked Debentures Long Term 50.00 ACUITE PP-MLD AA-(CE) | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Secured Overdraft Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.55 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.75 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Stable (Reaffirmed)
Working Capital Demand Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Principal Protected Market Linked Debentures Long Term 20.00 ACUITE PP-MLD AA-(CE) | Stable (Reaffirmed)
Term Loan Long Term 23.05 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 44.01 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 44.44 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.40 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 25.00 ACUITE A | Stable (Reaffirmed)
Proposed Long Term Loan Long Term 332.96 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 7.80 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1 (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 18.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 17.79 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 23.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 16.66 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 19.44 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 45.00 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 8.75 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 35.02 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 28.88 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 45.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.38 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Principal Protected Market Linked Debentures Long Term 130.00 ACUITE PP-MLD A | Stable (Reaffirmed)
Term Loan Long Term 1.20 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Working Capital Demand Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 120.00 ACUITE A | Stable (Reaffirmed)
20 Dec 2022 Non Convertible Debentures Long Term 7.80 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 10.00 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 68.75 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 24.83 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Downgraded from ACUITE A1+)
Non Convertible Debentures Long Term 44.01 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1 (Downgraded from ACUITE A1+)
Term Loan Long Term 40.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 10.00 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 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 15.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures 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)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 45.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 25.00 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 28.88 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Downgraded from ACUITE A1+)
Proposed Non Convertible Debentures Long Term 120.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Downgraded from ACUITE A1+)
Term Loan Long Term 22.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.38 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 1.00 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 A+ | Stable)
Secured Overdraft Long Term 45.00 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 30.00 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)
Term Loan Long Term 23.75 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 1.20 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 50.00 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 19.44 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Downgraded from ACUITE A1+)
Term Loan Long Term 44.44 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 16.66 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Principal Protected Market Linked Debentures Long Term 20.00 ACUITE PP-MLD AA-(CE) | Stable (Downgraded from ACUITE PP-MLD A+ | Stable)
Term Loan Long Term 8.75 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Principal Protected Market Linked Debentures Long Term 20.00 ACUITE PP-MLD A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Secured Overdraft Long Term 31.68 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Working Capital Demand Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Downgraded from ACUITE A1+)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Principal Protected Market Linked Debentures Long Term 50.00 ACUITE PP-MLD AA-(CE) | Stable (Downgraded from ACUITE PP-MLD A+ | Stable)
Term Loan Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Cash Credit Long Term 10.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 20.40 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 30.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 22.03 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 15.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Long Term Loan Long Term 332.96 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Downgraded from ACUITE A1+)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1 (Downgraded from ACUITE A1+)
Term Loan Long Term 8.75 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 20.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 15.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Principal Protected Market Linked Debentures Long Term 29.70 ACUITE PP-MLD AA-(CE) | Stable (Downgraded from ACUITE PP-MLD A+ | Stable)
Term Loan Long Term 18.00 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 43.34 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Principal Protected Market Linked Debentures Long Term 20.00 ACUITE PP-MLD AA-(CE) | Stable (Downgraded from ACUITE PP-MLD A+ | Stable)
Term Loan Long Term 6.03 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 16.11 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Downgraded from ACUITE A1+)
Term Loan Long Term 10.55 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Principal Protected Market Linked Debentures Long Term 20.00 ACUITE PP-MLD AA-(CE) | Stable (Downgraded from ACUITE PP-MLD A+ | Stable)
Commercial Paper Program Short Term 15.00 ACUITE A1 (Downgraded from ACUITE A1+)
Working Capital Demand Loan Long Term 25.00 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 3.33 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Term Loan Long Term 18.33 ACUITE A | Stable (Downgraded from ACUITE A+ | Stable)
Proposed Non Convertible Debentures Long Term 17.79 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)
22 Aug 2022 Term Loan Long Term 40.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 20.95 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Assigned)
Non Convertible Debentures Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 332.96 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Non Convertible Debentures Long Term 20.40 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A+ | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 17.79 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 30.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Term Loan Long Term 68.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Assigned)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 19.44 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 10.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 50.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A+ | Stable (Assigned)
Non Convertible Debentures Long Term 35.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 75.00 ACUITE PP-MLD A+ | Stable (Assigned)
Term Loan Long Term 35.02 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 44.01 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.38 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 25.00 ACUITE A+ | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 120.00 ACUITE A+ | Stable (Reaffirmed)
Working Capital Demand Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 45.00 ACUITE A+ | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 50.00 ACUITE A+ | Stable (Assigned)
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)
Term Loan Long Term 28.88 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.33 ACUITE A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 20.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Term Loan Long Term 30.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 10.55 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1+ (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 1.20 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1+ (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.75 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 16.11 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 6.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1+ (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 44.44 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 23.75 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Non Convertible Debentures Long Term 7.80 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 23.05 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 31.68 ACUITE A+ | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1+ (Reaffirmed)
Working Capital Demand Loan Long Term 25.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 16.66 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A+ | Stable (Reaffirmed)
19 May 2022 Commercial Paper Program Short Term 15.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Non Convertible Debentures Long Term 44.01 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.40 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 7.80 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 150.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1+ (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1+ (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 17.79 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1+ (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Proposed Market Linked Debentures Long Term 50.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A+ | Stable (Reaffirmed)
04 Mar 2022 Proposed Term Loan Long Term 35.15 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 20.95 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 5.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Proposed Term Loan Long Term 22.86 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Proposed Term Loan Long Term 45.00 ACUITE A+ | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 4.58 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Proposed Commercial Paper Program Short Term 50.00 ACUITE A1+ (Assigned)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 8.75 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 6.03 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1+ (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 200.00 ACUITE A+ | Stable (Assigned)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1+ (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1+ (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 43.34 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 150.00 ACUITE A+ | Stable (Assigned)
Term Loan Long Term 90.00 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 22.03 ACUITE A+ | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 20.00 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 24.83 ACUITE A+ | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Reaffirmed)
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 25.00 ACUITE A+ | Stable (Reaffirmed)
Term Loan Long Term 8.75 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)
Proposed Term Loan Long Term 0.20 ACUITE A+ | Stable (Reaffirmed)
Proposed Term Loan Long Term 18.89 ACUITE A+ | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A+ | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Reaffirmed)
Proposed Term Loan Long Term 16.67 ACUITE A+ | Stable (Reaffirmed)
24 Feb 2022 Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
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 A | Positive)
Term Loan Long Term 90.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non Convertible Debentures Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
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 A | Positive)
Term Loan Long Term 22.00 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 Term Loan Long Term 18.89 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A+ | Stable (Upgraded from ACUITE A | Positive)
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)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 16.67 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Term Loan Long Term 20.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 3.33 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 40.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Cash Credit Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non Convertible Debentures Long Term 35.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1+ (Upgraded from ACUITE A1)
Term Loan Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 4.58 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 22.86 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Upgraded from ACUITE A1)
Proposed Term Loan Long Term 35.15 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Commercial Paper Program Short Term 25.00 ACUITE A1+ (Upgraded from ACUITE A1)
Secured Overdraft Long Term 1.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non Convertible Debentures Long Term 10.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 22.03 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 8.75 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Upgraded from ACUITE A1)
Term Loan Long Term 25.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Term Loan Long Term 46.87 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 43.34 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Commercial Paper Program Short Term 10.00 ACUITE A1+ (Upgraded from ACUITE A1)
Proposed Term Loan Long Term 24.83 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non Convertible Debentures Long Term 20.00 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)
Commercial Paper Program Short Term 30.00 ACUITE A1+ (Upgraded from ACUITE A1)
Proposed Term Loan Long Term 5.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Proposed Term Loan Long Term 45.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Non Convertible Debentures Long Term 50.00 ACUITE A+ | Stable (Upgraded from ACUITE A | Positive)
Commercial Paper Program Short Term 15.00 ACUITE A1+ (Upgraded from ACUITE A1)
09 Dec 2021 Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 10.00 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)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (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)
Term Loan Long Term 45.00 ACUITE A1 | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Short Term 8.75 ACUITE A1 (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A1 | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Proposed Commercial Paper Program Long Term 45.00 ACUITE A1 | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A1 | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A1 | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 30.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A | Positive (Assigned)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A1 | Positive (Reaffirmed)
Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A1 | Positive (Reaffirmed)
Commercial Paper Program Long Term 15.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A1 | Positive (Reaffirmed)
Non Convertible Debentures 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 A1 | Positive (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A1 | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Proposed Commercial Paper Program Short Term 45.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 107.85 ACUITE A | Positive (Assigned)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 20.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 30.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (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 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 15.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
30 Nov 2021 Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Proposed Commercial Paper Program Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 10.00 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 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 50.00 ACUITE A1 (Assigned)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (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)
Term Loan Long Term 24.83 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)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A | Positive (Assigned)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 75.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Proposed Commercial Paper Program Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 75.00 ACUITE A1 (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 50.00 ACUITE A1 (Assigned)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A1 | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A1 | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A1 | Positive (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A1 | Positive (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A1 | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A1 | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Proposed Market Linked Debentures Long Term 25.00 ACUITE PP-MLD A | Positive (Assigned)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A1 | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A1 | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A1 | Positive (Reaffirmed)
Term Loan Short Term 22.03 ACUITE A1 (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (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)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
28 Oct 2021 Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 65.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Long Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 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 18.89 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Short Term 75.00 ACUITE A1 (Assigned)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
11 Oct 2021 Proposed Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Assigned)
Non Convertible Debentures Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 10.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 65.00 ACUITE A1 (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)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 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 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 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 25.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 150.00 ACUITE A (Withdrawn)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
24 Sep 2021 Non Convertible Debentures Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 21.00 ACUITE A1 (Withdrawn)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Proposed Non Convertible Debentures Long Term 150.00 ACUITE A | Positive (Assigned)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 65.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
21 Sep 2021 Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 22.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 44.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 90.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 145.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Positive (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)
Term Loan Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Positive (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Positive (Reaffirmed)
Non Convertible Debentures Long Term 65.00 ACUITE A | Positive (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Positive (Reaffirmed)
Proposed Term Loan Long Term 455.77 ACUITE A | Positive (Reaffirmed)
Commercial Paper Program Long Term 21.00 ACUITE A1 (Reaffirmed)
02 Sep 2021 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 (Assigned)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 45.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Term Loan Long Term 592.77 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 18.89 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 24.83 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 46.87 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 43.34 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 35.15 ACUITE A | Stable (Reaffirmed)
26 Aug 2021 Term Loan Long Term 18.89 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 4.58 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.75 ACUITE A | Stable (Assigned)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 24.83 ACUITE A | Stable (Assigned)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 16.67 ACUITE A | Stable (Assigned)
Term Loan Long Term 35.15 ACUITE A | Stable (Assigned)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 8.75 ACUITE A | Stable (Assigned)
Proposed Term Loan Long Term 592.77 ACUITE A | Stable (Assigned)
Term Loan Long Term 43.34 ACUITE A | Stable (Assigned)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 8.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 46.87 ACUITE A | Stable (Assigned)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.86 ACUITE A | Stable (Assigned)
Term Loan Long Term 45.00 ACUITE A | Stable (Assigned)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Assigned)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 22.03 ACUITE A | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 3.33 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Proposed Term Loan Long Term 0.20 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 5.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Secured Overdraft Long Term 1.00 ACUITE A | Stable (Assigned)
Term Loan Long Term 6.03 ACUITE A | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 20.00 ACUITE Provisional PP-MLD AA+(CE) | Stable (Assigned)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 20.95 ACUITE A | Stable (Assigned)
Term Loan Long Term 20.00 ACUITE A | Stable (Assigned)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Assigned)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 25.00 ACUITE A | Stable (Assigned)
11 Aug 2021 Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 50.00 ACUITE PP-MLD AA+(CE) | Stable (Assigned)
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)
Proposed Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
05 Aug 2021 Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE Provisional PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE Provisional PP-MLD AA+(CE) | Stable (Assigned)
Principal protected market linked debentures Long Term 10.00 ACUITE PP-MLD AA+(CE) (Withdrawn)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Term Loan Long Term 8.50 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)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures 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)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
22 Jul 2021 Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Assigned)
Non Convertible Debentures Long Term 10.00 ACUITE Provisional PP-MLD AA+(CE) | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
09 Jul 2021 Non Convertible Debentures 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)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 30.00 ACUITE Provisional PP-MLD AA+(CE) | Stable (Assigned)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
28 May 2021 Principal protected market linked debentures Long Term 20.00 ACUITE PP-MLD AA+(CE) | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 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) (Withdrawn)
Proposed Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
21 May 2021 Proposed Commercial Paper Program Short Term 44.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 25.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Bank Facility Long Term 13.63 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)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Proposed Non Convertible Debentures Long Term 20.00 ACUITE Provisional PP-MLD AA+(CE) | Stable (Assigned)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
05 May 2021 Commercial Paper Program Long Term 21.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Long Term 10.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Principal protected market linked debentures Long Term 29.70 ACUITE PP-MLD AA+(CE) | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 0.30 ACUITE Provisional PP-MLD AA+(CE) | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Long Term 44.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
28 Apr 2021 Commercial Paper Program Long Term 25.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 6.38 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Long Term 44.00 ACUITE A1 (Reaffirmed)
Commercial Paper Program Long Term 21.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 8.50 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 65.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 25.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 30.00 ACUITE Provisional PP-MLD AA+(CE) | Stable (Assigned)
Term Loan Long Term 5.24 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Proposed Bank Facility Long Term 13.63 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Long Term 10.00 ACUITE A1 (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 6.25 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
24 Dec 2020 Proposed Non Convertible Debentures Long Term 145.00 ACUITE A | Stable (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 40.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 9.50 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 10.00 ACUITE A1 (Reaffirmed)
Proposed Non Convertible Debentures Long Term 150.00 ACUITE A | Stable (Assigned)
Non Convertible Debentures Long Term 20.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 7.14 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 7.76 ACUITE A | Stable (Reaffirmed)
Proposed Commercial Paper Program Short Term 69.00 ACUITE A1 (Reaffirmed)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 35.00 ACUITE A | Stable (Reaffirmed)
Commercial Paper Program Short Term 21.00 ACUITE A1 (Reaffirmed)
Proposed Bank Facility Long Term 7.68 ACUITE A | Stable (Reaffirmed)
Non Convertible Debentures Long Term 50.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 7.92 ACUITE A | Stable (Reaffirmed)
08 May 2020 Proposed Term Loan Long Term 10.00 ACUITE A | Stable (Assigned)
Proposed Bank Facility Long Term 50.17 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 10.00 ACUITE A | Stable (Assigned)
Proposed Commercial Paper Program Short Term 100.00 ACUITE A1 (Reaffirmed)
Term Loan Long Term 4.83 ACUITE A | Stable (Assigned)
Proposed Non Convertible Debentures Long Term 200.00 ACUITE A | Stable (Assigned)
Cash Credit Long Term 10.00 ACUITE A | Stable (Reaffirmed)
Proposed Non Convertible Debentures Long Term 100.00 ACUITE A | Stable (Reaffirmed)
Term Loan Long Term 15.00 ACUITE A | Stable (Reaffirmed)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating
Not Applicable INE583D14147 Commercial Paper Program 31 May 2022 8.75 29 Mar 2023 20.00 Simple Not Applicable|Withdrawn
Not Applicable INE583D07174 Non-Convertible Debentures (NCD) 16 Nov 2021 10.00 16 Feb 2024 50.00 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) 20 Jan 2022 10.25 19 Jan 2025 25.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07299 Non-Convertible Debentures (NCD) 28 Sep 2022 10.15 28 Mar 2024 39.17 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07307 Non-Convertible Debentures (NCD) 28 Sep 2022 10.35 28 Dec 2024 11.55 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07315 Non-Convertible Debentures (NCD) 28 Sep 2022 10.50 28 Sep 2025 49.28 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 INE583D07240 Non-Convertible Debentures (NCD) 05 May 2022 10.00 04 Nov 2023 20.40 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 INE583D07026 Non-Convertible Debentures (NCD) 08 Jun 2020 10.00 08 Jun 2023 50.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07109 Non-Convertible Debentures (NCD) 26 Mar 2021 11.55 31 Dec 2024 25.00 Simple ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07158 Principal protected market linked debentures 31 Aug 2021 9.10 05 Sep 2023 20.00 Complex PP-MLD | ACUITE AA- | CE | Stable | Reaffirmed
Not Applicable INE583D07273 Principal protected market linked debentures 23 May 2022 Not Applicable 23 Jan 2024 130.00 Complex PP-MLD | ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07182 Principal protected market linked debentures 30 Nov 2021 9.25 30 May 2023 15.00 Complex PP-MLD | ACUITE A | Stable | Reaffirmed
Not Applicable INE583D07141 Principal protected market linked debentures 06 Aug 2021 Not Applicable 06 Aug 2029 50.00 Complex Not Applicable|Withdrawn
Not Applicable INE583D07281 Secured Retail Non-Convertible Debentures 15 Jul 2022 Not Applicable 15 Oct 2023 25.00 Simple ACUITE A | Stable | Reaffirmed
Dhanlaxmi Bank Ltd Not Applicable Term Loan Not available Not available Not available 10.00 Simple ACUITE A | Reaffirmed & Withdrawn
Sundaram Finance Ltd. Not Applicable Term Loan 31 Mar 2021 12.00 22 Sep 2023 22.03 Simple ACUITE A | Reaffirmed & Withdrawn
Kotak Mahindra Bank Not Applicable Term Loan Not available Not available Not available 44.44 Simple ACUITE A | Reaffirmed & Withdrawn
Utkarsh Small Finance Bank Ltd. Not Applicable Term Loan Not available Not available Not available 25.38 Simple ACUITE A | Reaffirmed & Withdrawn
Indian Overseas Bank Not Applicable Term Loan Not available Not available Not available 50.00 Simple ACUITE A | Reaffirmed & Withdrawn
RBL Bank Not Applicable Term Loan Not available Not available Not available 25.00 Simple ACUITE A | Reaffirmed & Withdrawn
RBL Bank Not Applicable Working Capital Demand Loan (WCDL) Not available Not available Not available 25.00 Simple ACUITE A | Reaffirmed & Withdrawn
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