ICCLINDIA

ICCL - Credit Rating

Credit Rating

Particulars	Rating
ICCL Domestic Rating
India Ratings
Long-Term Issuer Rating	IND AAA
Outlook	Stable

CARE Ratings
Issuer Rating	CARE AAA (Is)

India Country Rating
Standard & Poor's
Local Currency LT	BBB-
Outlook	Stable
Local Currency ST	A-3
Foreign Currency LT	BBB-
Outlook	Stable
Foreign Currency ST	A-3
Moody's
Senior Unsecured (Domestic)	Baa3
LT Issuer Rating (Domestic)	Baa3
LT Issuer Rating (Foreign)	Baa3
Other Short Term (Domestic)	P-3
Outlook	Positive
Fitch Ratings
Long Term Issuer Default Rating	BBB-
Outlook	Stable
Short Term Issuer Default Rating	F3
Local Currency Long Term Issuer Default Rating	BBB-
Country Ceiling	BBB-

Rating Definitions:

India Ratings and Research Private Limited	www.indiaratings.co.in/Uploads/CriteriaReport/Financial%20Institutions%20Rating%20Criteria.pdf
CARE Ratings	www.careratings.com/upload/CompanyFiles/PR/202403130355_Indian_Clearing_Corporation_Limited.pdf
Standard & Poor's Ratings Services	www.standardandpoors.com/en_US/web/guest/article/-/view/sourceId/504352
Moody's Investors Service	www.moodys.com/research/Sovereign-Supranational-Rating-List--PBC_186519
Fitch Ratings Inc	www.fitchratings.com/site/fitch-home/definitions