ICRA SME 1 The Highest Credit Quality
ICRA SME 2 The High Credit Quality
ICRA SME 3 The Adequate Credit Quality
ICRA SME 4 The Moderate Credit Quality
ICRA SME 5 The Inadequate Credit Quality
ICRA SME 6 The Risk – Prone Credit Quality
ICRA SME 7 The Poor Credit Quality
ICRA SME 8 The Lowest Credit Quality
Note: For the Rating categories ICRA SME 2 through to ICRA SME 7 the sign of + (plus) or – (minus) may be appended to the Rating symbols to indicate their relative position within the Rating categories concerned. Thus, the Rating of ICRA SME 2+ is one notch higher than ICRA SME 2, while ICRA SME 2– is one notch lower than ICRA SME 2.
Recent Releases

  • Shekar Logistics Pvt Ltd: Rating downgraded to [ICRA]D, Continues to remain in issuer not cooperating category

    Rationale / 21 Jan 2020

  • S V Creditline Limited: ICRA withdraws rating for pass through certificates (PTCs) issued under one micro loan securitisation transaction

    Rationale / 21 Jan 2020

  • Sunderlal Moolchand Jain Tobacconist Private Limited: Rating withdrawn

    Rationale / 21 Jan 2020