Short Term Debt Instruments :

These instruments are with original maturity of upto one year. Rating symbols should have CRA’s first name as prefix.

A1 – Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

A2 – Instruments with this rating are considered to have strong degree of safety regarding timely payment of financial obligations. Such instruments carry low credit risk.

A3 – Instruments with this rating are considered to have moderate degree of safety regarding timely payment of financial obligations. Such instruments carry higher credit risk as compared to instruments rated in the two higher categories.

A4 – Instruments with this rating are considered to have minimal degree of safety regarding timely payment of financial obligations. Such instruments carry very high credit risk and are susceptible to default.

D – Instruments with this rating are in default or expected to be in default on maturity. 

Modifier {“+” (plus)} can be used with the rating symbols for the categories A1 to A4. The modifier reflects the comparative standing within the category.