Credit Rating Actions
Last 30 daysCRISIL · ICRA · CARE · India Ratings — credit rating changes sourced from public disclosures.
- 2020 rating actions recorded in the last 30 days: 104 upgrades, 37 downgrades, 562 reaffirmations, 1317 other actions. (based on 2020 rating actions in the last 30 days)
- Crisil published the most rating actions this period (2020 of 2020, 100%). (based on 2020 rating actions in the last 30 days)
- 57 issuers had more than one rating action in the last 30 days. (based on 1525 distinct issuers with an action in the window)
Ratings are opinions on credit risk, not guarantees. They can change any time based on the issuer's financial strength or market conditions.
| Rating | What it means |
|---|---|
| AAA | Highest degree of safety regarding timely payment of financial obligations; lowest credit risk. |
| AA | High degree of safety; very low credit risk. |
| A | Adequate degree of safety; low credit risk. |
| BBB | Moderate degree of safety; moderate credit risk. |
| BB | Moderate risk of default. |
| B | High risk of default. |
| C | Very high risk of default. |
| D | In default, or expected to be in default. |
These are the SEBI-mandated definitions used by CRISIL, ICRA, CARE Ratings, and India Ratings for long-term instruments — not RetailBonds.in's own opinion or risk assessment. Agencies also apply modifiers (+/-) for finer distinction within a band.
Learn more: How Credit Rating Agencies Work in India · Reading a CRISIL Rating Action · Data sources & methodology
What is a credit rating?
An independent opinion, from a SEBI-registered rating agency, on an issuer's ability and willingness to meet its debt obligations in full and on time. It is not a recommendation to buy, sell, or hold any security.
Who assigns credit ratings in India?
Four agencies are active on this page today: CRISIL, ICRA, CARE Ratings, and India Ratings & Research. All are registered with SEBI.
Can a bond default even if it has a high rating?
Yes. A rating is a point-in-time opinion, not a guarantee — an issuer's financial position can deteriorate after a rating is assigned, and agencies revise ratings in response, not always in advance.
How often do ratings change?
There's no fixed schedule. Agencies conduct periodic surveillance (typically annual) and can also act between reviews if a material event occurs — see the recent actions feed below for the real pace on file.
Showing 25 of 7040 matching actions (page 1 of 282).
About ratings: Credit ratings reflect the rating agency's opinion on the likelihood of timely payment of interest and principal. They are not buy/sell recommendations. RetailBonds.in does not issue ratings — we mirror what the agencies publish. Read the full rationale on the agency's website before drawing conclusions.