Disclosures as per SEBI's circular SEBIHOMIRSDDOS3CIRP201970





Industry wide Probability of Default Benchmarks
Long-run PD Benchmarks
Rating Category 1-Year 2-Year 3-Year
AAA 0.0% 0.0% 1.0%
AA 0.0% 2.0% 2.0%
A 3.0% 3.5% 5.4%
BBB 3.3% 6.0% 10.5%
BB 8.7% 14.4% 19.6%
B 17.2% 33.1% 45.3%
C 100.0% 100.0% 100.0%
Short-run PD Benchmarks
Rating Category 1-Year 2-Year 3-Year
AAA 0.0% 0.0% 1.0%
AA 0.0% 2.0% 2.4%
A 3.0% 4.3% 6.5%
BBB 3.9% 7.1% 12.1%
BB 10.5% 17.1% 23.2%
B 19.6% 35.3% 48.2%
C 100.0% 100.0% 100.0%