Rating Symbol-4

Rating Symbols and Definitions for Short Term Structured Finance Instruments

Short term structured finance instruments: The instruments with original maturity of upto one year

 Rating symbols should have CRA’s first name as prefix

A1 (SO) - Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligation. Such instruments carry lowest credit risk.

A2 (SO) - Instruments with this rating are considered to have strong degree of safety regarding timely   payment of financial obligation. Such instruments carry low credit risk.

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

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

D (SO) - 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(SO) to A4(SO). The modifier reflects the comparative standing within the category.