ECL Finance NCD Nov 2019 vs Shriram Transport Finance NCD Jan 2020

The NCDs proposed to be issued under this Issue have been rated "CARE AA; Positive" (pronounced as CARE AA with Positive outlook) for an amount of Rs 20,000 million, by CARE Ratings Limited vide their letter dated April 10, 2019 and "CRISIL AA/Stable" (pronounced as CRISIL double A rating with Stable outlook) for an amount of Rs 20,000 million, by CRISIL Limited vide their letter dated April 18, 2019. The rating of "CARE AA; Positive" by CARE Ratings Limited and "CRISIL AA/Stable" by CRISIL Limited indicate that instruments with these ratings are considered to have a high degree of safety regarding timely servicing of financial obligations.

The NCDs proposed to be issued under this Issue have been rated 'CARE AA+; Stable' by CARE Ratings Limited ("CARE") for an amount of up to Rs 10,00,000 lacs vide its letter dated June 28, 2019, and revalidated by its letter dated December 18, 2019, 'CRISIL AA+/Stable' by CRISIL Limited ("CRISIL") for an amount of up to Rs 10,00,000 lacs vide its letter dated June 26, 2019, and revalidated by its letter dated December 12, 2019, and 'IND AA+; Outlook Stable' by India Ratings and Research Private Limited ("India Ratings") for an amount of up to Rs 10,00,000 lacs vide its letter dated June 25, 2019, and revalidated by its letter dated December 11, 2019. The rating of the NCDs by CARE, CRISIL and India Ratings indicate that instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.

Series I to Series IX

Series I to Series VIII