Knowledge Realty Trust544481Credit rating maintained/reaffirmed

Crisil revalidates rating of Crisil AAA/Stable on NCDs issued and to be issued

Crisil Ratings Limited has revalidated the credit rating of "Crisil AAA/Stable" for the Non-Convertible Debentures issued and to be issued by the Trust.

By ScoutQuest · Tue 13 Oct 2026, 4:36 PM IST · 2 min read

Credit Rating: Crisil AAA/Stable
NCD Amounts Covered: Rs. 1600 Crore, Rs. 1000 Crore and Rs. 400 Crore
Rating Letter Date: 12th October, 2026

What the update says

Crisil Ratings Limited has revalidated the credit rating of "Crisil AAA/Stable" for the Non-Convertible Debentures issued and to be issued by the Trust. The rating letters are dated 12th October, 2026.

What "revalidate" means here

A revalidation is a fresh confirmation that an existing rating continues to apply. In the earlier rating details in the update, the same instruments were shown with the rating action "Reaffirm" dated 23-09-2026. The current rating details show the action as "Other - Revalidate" dated 12-10-2026, with the verification status "confirmed".

What the rating stands for

Crisil's letter describes "Crisil AAA/Stable" as "Crisil triple A rating" with Stable outlook. In Crisil's words, securities with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations, and such securities carry the lowest credit risk.

Amounts the rating covers

Rs. 1600 Crore Non Convertible Debentures of the Trust
Rs. 1000 Crore Non Convertible Debentures of the Trust
Rs. 400 Crore Non Convertible Debentures of the Trust

The rating details also list three instruments identified by ISIN (INE1JAR07010, INE1JAR07028, INE1JAR07036) and two "Proposed Non-Convertible Debentures", each carrying Crisil AAA with Stable outlook.

Conditions mentioned in the letter

Crisil states that a fresh letter of revalidation would be necessary if the issue is not made within a period of 180 days from the date of the letter, or if there is any change in the size or structure of the proposed issue. Crisil also states that it keeps the rating under surveillance for the life of the instrument and can withdraw or revise the rating or outlook at any time.

Points to note

The ratings are disclosed in the update along with a copy of the Crisil letters, and the documents will also be uploaded on the Trust's website. Crisil's letter notes that a rating is its current opinion on the likelihood of timely payment of obligations, is not an audit of the rated entity, and is not a recommendation to buy, sell or hold the instrument.

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