https://varroc.com/wp-content/uploads/2022/5/Rating_rationale.pdf

Instrument/Bank/Facility Credit Rating Rating Outlook Download
Term Loan (Long Term) [ICRA]A Watch with developing Implications Credit Rating
 Fund-based (Long- term/Short-term) [ICRA]A & /[ICRA]A2+ Watch with developing Implications
Non-fund Based (Long- term/Short-term) [ICRA]A &

/[ICRA]A2+

Watch with developing Implications
Commercial Paper (Short-term) [ICRA] A2+ 

Watch with developing Implications
Non-convertible Debenture (NCD) Programme [ICRA]A Watch with developing Implications