L&T Finance NCD Dec 2019 vs Shriram City NCD Aug 2019

The NCDs proposed to be issued under this Issue have been rated "CRISIL AAA/Stable" (pronounced as CRISIL triple A with Stable outlook) for an amount of Rs 5000 crores, by CRISIL Limited ("CRISIL") vide their letter dated November 14, 2019, CARE AAA / Stable (pronounced as CARE triple A with Stable Outlook) for an amount of Rs 5, 000 crores, by CARE Ratings Ltd. ("CARE") vide their letter dated November 15, 2019 and IND AAA / Stable (pronounced as IND triple A with Stable outlook) for an amount of Rs 5,000 crores, by India Ratings and Research Private Limited ("India Ratings") vide their letter dated November 18, 2019.

CDs proposed to be issued under the Issue have been rated 'CARE AA+ Stable' (Double A Plus; Outlook: Stable) by CARE and 'CRISIL AA/Stable' (pronounced as CRISIL double A rating with Stable outlook) by CRISIL for an amount of upto Rs 30,000 million vide their letters dated December 11, 2018 (and revalidated on February 14, 2019 and further revalidated on March 20, 2019 and further revalidated on August 14, 2019) and December 6, 2018 (and revalidated on February 19, 2019 and further revalidated on March 19, 2019 and further revalidated on August 9, 2019) respectively. The rating of the NCDs by CARE and CRISIL are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Series I to Series VI

Series I to Series VIII