Crisil assigns and reaffirms 'Crisil AAA/Stable' on NCDs; 'Crisil A1+' on commercial papers
Crisil Ratings has assigned Crisil AAA/Stable to proposed Non-Convertible Debentures of Knowledge Realty Trust, and re-affirmed Crisil AAA/Stable on NCDs already issued and to be issued.
- NCD Rating
- Crisil AAA/Stable assigned to proposed Non-Convertible Debentures
- Commercial Paper Rating
- Crisil A1+ re-affirmed on commercial papers issued and proposed
- Corporate Credit Rating
- Crisil AAA/Stable re-affirmed
- NCD Amount Under Review
- Rs. 1600 Crore Non Convertible Debentures reaffirmed at AAA/Stable
- Rating Letter Date
- 23rd September, 2026
What was disclosed
Knowledge Realty Trust informed the exchanges that Crisil Ratings Limited has taken rating action on its debt instruments, with letters dated 23rd September, 2026.
- Crisil AAA/Stable assigned to proposed Non-Convertible Debentures.
- Crisil AAA/Stable re-affirmed on Non-Convertible Debentures issued and to be issued.
- Crisil A1+ re-affirmed on commercial papers issued and proposed to be issued.
- Crisil AAA/Stable re-affirmed as the corporate credit rating.
Instrument-wise action
The annexure lists eight current rating lines, all dated 23-09-2026 and confirmed. Six carry Crisil AAA/Stable (five reaffirmed, one proposed NCD line newly rated) and two carry Crisil A1+ (reaffirmed). Rating letters cover a review of the rating on Rs. 1600 Crore Non Convertible Debentures, reaffirmed at AAA/Stable.
Earlier rating details show the same AAA/Stable and A1+ levels as of 15-07-2026 from Crisil, and [ICRA]AAA/Stable on one ISIN as of 21-07-2026.
What the grades mean
Crisil notes that issuers and securities rated AAA are considered to have the highest degree of safety regarding timely servicing of debt obligations, carrying the lowest credit risk. A1+ is the strongest grade on the short-term scale used for instruments such as commercial paper.
For a proposed NCD issue, Crisil states that if the issue is not made within 180 days of the letter date, or if the size or structure changes, a fresh revalidation letter is required.
How investors may read it
Ratings maintained at the top of both the long-term and short-term scales generally point to continuity in the trust's credit profile and can influence the cost and ease of raising debt. A rating is an opinion on repayment of debt instruments and is not a recommendation to buy, sell or hold. Crisil keeps ratings under continuous surveillance and may revise them on new information.
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More numbers
- NCDs covered by rating letterRs. 1600 Crore
- Validity window for proposed issue180 days
- Current rating lines listed8
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