Rating Symbols and Definitions for Long Term Structured Finance Instruments

Long term structured finance instruments: The instruments with original maturity exceeding one year

Rating Symbol

  Rating Definition

IVR AAA (SO)

Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk.

IVR AA (SO)

Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

IVR A (SO)

Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

IVR BBB (SO)

Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.

IVR BB (SO)

Instruments with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations.

IVR B (SO)

Instruments with this rating are considered to have high risk of default regarding timely servicing of financial obligations.

IVR C (SO)

Instruments with this rating are considered to have very high likelihood of default regarding timely servicing of financial obligations.

IVR D (SO)

Instruments with this rating are in default or are expected to be in default soon.

 

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 Symbol

  Rating Definition

IVR 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.

IVR 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.

IVR 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.

IVR 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

IVR 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 IVR A1(SO) to IVR A4(SO). The modifier reflects the comparative standing within the category.