Credit Rating Actions
Last 30 daysCRISIL’s published rating actions, and other agencies’ actions as listed companies filed them with NSE. Current ratings from every agency appear on bond and issuer pages.
- 1,990 rating actions recorded in the last 30 days: 94 upgrades, 23 downgrades, 436 reaffirmations, 1,437 other actions. (based on 1,990 rating actions in the last 30 days)
- Crisil published the most rating actions this period (1,974 of 1,990, 99%). (based on 1,990 rating actions in the last 30 days)
- 22 issuers had more than one rating action in the last 30 days. (based on 382 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?
Nine credit rating agencies are SEBI-registered. This page lists CRISIL’s rating actions from its own published list, and actions by ICRA, CARE Ratings, India Ratings & Research and others as listed companies filed them with NSE. Current ratings from every agency appear on bond and issuer pages.
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.
Browse every upgrade, downgrade, watch and withdrawal by month →
Showing 25 of 10,628 matching actions (page 1 of 426).
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2026-11-06Alliance International Tours And TravelsCRISIL · Non Cooperating
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2026-11-06Victus DyeingsCRISIL · Reaffirm
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2026-11-06Tayal India Motors Private LimitedCRISIL · Non Cooperating
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2026-11-06Stadmed Private LimitedCRISIL · Non Cooperating
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2026-11-06Neev Energy LLPCRISIL · Non Cooperating
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2026-11-06Muthoot Housing Finance Company LimitedCRISIL · Update
- AAA 2,873 · 8%
- AA 2,722 · 8%
- A 1,526 · 4%
- BBB 1,087 · 3%
- Below BBB 374 · 1%
- Unrated 27,504 · 76%
| Agency | Actions | Since |
|---|---|---|
| CRISIL | 10,547 | 2026-11-06 |
| ICRA | 17 | 2026-11-05 |
| CARE Ratings | 33 | 2026-10-28 |
| India Ratings | 17 | 2026-10-09 |
| Brickwork Ratings | 10 | 2026-11-04 |
| Acuité | 3 | 2026-09-30 |
| Infomerics | 1 | 2026-08-20 |
- CRISIL actions come from CRISIL's own published list. Other agencies' actions are as listed companies filed them with NSE (SEBI LODR Reg 52(4)), since 19 Aug 2026; issuers that don't file with NSE are not covered.
Ratings and rating actions are mirrored from each agency's own public disclosures. We compute nothing on the agencies' behalf and issue no ratings of our own.
View Full Methodology →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.