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Corporate Governance Rating
 
Corporate Governance Rating
ICRA's Corporate Governance Rating (CGR) provides a current opinion on the level to which an organisation accepts and agrees to codes and guidelines of corporate governance practices that serve the interest of stakeholders. The CGR Rating Scale is as follows:
     

CGR1

Implies that in ICRA's opinion, the rated company has adopted and follows such practices, conversations and codes as would provide its financial stakeholders the highest assurance on the quality of corporate governance. ICRA's opinion, however, is not a certificate of statutory compliance or a comment on the rated company's future financial performance, credit rating or stock price.

CGR2

Implies that in ICRA's current opinion, the rated company has adopted and follows such practices, conventions and codes as would provide its financial stakeholders a high level of assurance on the quality of corporate governance. ICRA's opinion, however, is not a certificate of statutory compliance or a comment on the rated company's future financial performance, credit rating or stock price.

CGR3

Implies that in ICRA's current opinion, the rated company has adopted and follows such practices, conventions and codes as would provide its financial stakeholders adequate level of assurance on the quality of corporate governance. ICRA's opinion, however, is not a certificate of statutory compliance or a comment on the rated company's future financial performance, credit rating or stock price.

CGR4

Implies that in ICRA's opinion, the rated company has adopted and follows such practices, conversations and codes as would provide its financial stakeholders the moderate level of assurance on the quality of corporate governance. ICRA's opinion, however, is not a certificate of statutory compliance or a comment on the rated company's future financial performance, credit rating or stock price.

CGR5

Implies that in ICRA's opinion, the rated company has adopted and follows such practices, conversations and codes as would provide its financial stakeholders the inadequate level of assurance on the quality of corporate governance. ICRA's opinion, however, is not a certificate of statutory compliance or a comment on the rated company's future financial performance, credit rating or stock price.

CGR6

Implies that in ICRA's opinion, the rated company has adopted and follows such practices, conversations and codes as would provide its financial stakeholders low level of assurance on the quality of corporate governance. ICRA's opinion, however, is not a certificate of statutory compliance or a comment on the rated company's future financial performance, credit rating or stock price.

A sign of '+' may be suffixed to any of the rating symbols other than CGR1 to indicate a relatively higher standing within the category represented by the particular symbol.