Credit Rating

Nature of Debt Instrument Nature of Term CRISIL India Ratings ICRA CARE
Non-Convertible Debentures Long Term AA- /Stable AA-/Stable AA- /Stable -
Subordinated Debt/Tier II Bonds Long Term AA- /Stable AA-/Stable AA- /Stable -
Bank Loans Long Term - AA- /Stable AA- /Stable AA- /Stable
Certificate of Deposits Short Term A1+ A1+ - -


CRISIL Credit Rating Information Services of India Limited (A Standard & Poor's Company)
India Ratings India Ratings (A 100% subsidiary of the Fitch Group)
ICRA ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) - An Associate of Moody's Investors Service
CARE Credit Analysis & Research Ltd.


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