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List of CARE Rated Bonds
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CARE rating agency is one of the leading credit rating agencies in India, with a market share of 30%. CareEdge Ratings provides ratings to a variety of industries, such as manufacturing, infrastructure, and the financial sector, including banking and non-financial services.
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| Name | Issue Size | Maturity | Coupon |
|---|---|---|---|
| NTPC Limited | 140.00Cr | 06 Nov 2023 | 11.25 % |
| Poonawalla Fincorp Limited | 25.00Cr | 24 Jan 2027 | 10.40 % |
| Poonawalla Fincorp Limited | 35.00Cr | 07 Dec 2026 | 10.40 % |
| Poonawalla Fincorp Limited | 15.00Cr | 06 Jan 2027 | 10.40 % |
| Poonawalla Fincorp Limited | 15.00Cr | 03 Mar 2027 | 10.25 % |
| Poonawalla Fincorp Limited | 5.00Cr | 06 Jun 2025 | 10.20 % |
| HDB Financial Services Limited | 100.00Cr | 17 Oct 2023 | 10.20 % |
| HDB Financial Services Limited | 80.00Cr | 18 Mar 2024 | 10.19 % |
| Tata Capital Financial Services Limited | 100.00Cr | 26 Sep 2024 | 10.15 % |
| Poonawalla Fincorp Limited | 10.00Cr | 18 May 2027 | 10.10 % |
All You Need To Know About CARE Rated Bonds
IntroductionAbout CARERating scale of Debt SecuritiesRating methodology for NBFCsFinal WordIntroduction
Credit ratings provided by CARE on the debt obligation are its view on whether the obligation will be repaid. The ratings indicate the risk of default on the instruments. Good credit ratings indicate responsible behaviour of the organisation and a good repayment history. The ratings are expressed in alphanumeric symbols under different categories.
About CARE
The CARE rating agency is one of the leading credit rating agencies in India, with a market share of 30%. Incorporated in 1993, the company provides credit ratings to corporates to help them raise debt capital to fulfil their operational requirements. CareEdge Ratings provides ratings to a variety of industries, such as manufacturing, infrastructure, and the financial sector, including banking and non-financial services. The company has played a pivotal role in the development of bank debt and capital market instruments, such as commercial papers, corporate bonds and debentures, and structured credit.
Rating scale of Debt Securities
Credit Rating of debt securities of both long and medium-term debt securities with original maturity exceeding one year are as follows:
Symbols | Rating Definition |
CARE AAA | Securities with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such securities carry the lowest credit risk. |
CARE AA | Securities with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such securities carry very low credit risk. |
CARE A | Securities with this rating are considered to have an adequate degree of safety regarding the timely servicing of financial obligations. Such securities carry low credit risk. |
CARE BBB | Securities with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such securities carry moderate credit risk. |
CARE BB | Securities with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations. |
CARE B | Securities with this rating are considered to have a high risk of default regarding timely servicing of financial obligations. |
CARE C | Securities with this rating are considered to have a very high risk of default regarding timely servicing of financial obligations. |
CARE D | Securities with this rating are in default or are expected to be in default soon. |
Rating methodology for NBFCs
CARE ratings directly affect the interest rates that are being charged on bank loans or issued bonds. These ratings differ from AAA to BBB and are even lower, which directly affects the implied interest rates anywhere from 6 to 10 %. ‘AAA’ means a borrower can sufficiently repay its debt, whereas ‘BBB’ means the company can barely make their timely payments. Better the rating – lower the interest rate on borrowings and vice versa. Being a full-service rating agency, CARE has developed various products apart from debt ratings, such as Infra ratings, MFI Grading, Real Estate Star Rating, Edu-Grade, REIT Rating, RESCO Grading, ESCO Grading, IPO Grading, ITI Grading, Shipyard Grading etc.
Final Word
CARE does proper due diligence and then offers ratings to the debt issuers depending on their creditworthiness. You should always check the risks associated with the instrument in which you are investing to avoid losing money, and rating scales are one of the best measures to help your decision-making.
FAQs about CARE Rated Bonds
What is a Credit Rating?
Credit Rating is the opinion provided by the Credit Rating Agencies about an issuer's creditworthiness towards a particular security. This defines whether the borrower will be able to repay the debt.
Who regulates CARE?
All Credit Rating Agencies, including CARE, are regulated by the Securities and Exchange Board of India (SEBI) and monitored regularly.
Why does a credit rating change?
Credit rating is provided to an instrument depending on certain assumptions and expectations that impact the issuer's performance. However, these can change depending upon various micro and macroeconomic variables, leading to ratings changes.