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Last updated on : 23/10/2018
Ratings
Credit Rating

Our primary sources of funds include domestic and foreign borrowings, internal resources and Government of India guarantees and support.  Our credit ratings as of September 30, 2018 are as follows:

Our Credit Ratings

 

Rating Agency

Instrument/Purpose/Issue

Rating

Date of issue/revalidation of rating

 

 

ICRA Limited

Tax-free bonds (Rs. 20000 million) Fiscal 2016

ICRA AA+ (Stable) Reaffirmed

November 03, 2017

Taxable Green bonds (Rs. 20000 million) Fiscal 2017

ICRA AA+ (Stable) Reaffirmed

November 03, 2017

Taxable Bonds (Rs. 32650 million) Fiscal 2018

ICRA AA+ (Stable) Assigned

December 16, 2017

 

India Ratings & Research Private Limited

Tax-free bonds (Rs. 20000 million) Fiscal 2016

IND AAA (Stable) Upgraded

September 19, 2018

Taxable Green bonds (Rs. 20000 million) Fiscal 2017

IND AAA (Stable) Upgraded

September 19, 2018

Taxable Bonds (Rs. 32650 million) Fiscal 2018

IND AAA (Stable) Assigned

September 19, 2018

CARE Ratings Limited

Taxable Bonds Series I, II, III & IV

CARE AAA (SO), Stable

October 05, 2018

Tax Free Bonds Series-XIII

CARE AAA (SO), Stable

October 05, 2018

Taxable Green bonds (Rs. 20000 million) Fiscal 2017

CARE AA+

October 05, 2018

Brickwork Ratings

Long Term Taxable

Bonds Series II, III, IV & V

BWR AAA (SO), Stable Reaffirmed

September 27, 2018

Tax Free Bonds Series-XIII

BWR AAA (SO), Stable Reaffirmed

September 27, 2018

 







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