ICRA uses the following scale for assigning RR to SRs.

Recovery Rating Implied Recovery Rating Definition
RR1+ > 150% The rating of RR1+ indicates that the present value of anticipated recoveries is more than 150% of the face value outstanding of the SRs.
RR1 100% - 150% The rating of RR1 indicates that the present value of anticipated recoveries is in the range of 100%-150% of the face value outstanding of the SRs.
RR2 75% - 100% The rating of RR2 indicates that the present value of anticipated recoveries is in the range of 75%-100% of the face value outstanding of the SRs.
RR3 50% - 75% The rating of RR3 indicates that the present value of anticipated recoveries is in the range of 50%-75% of the face value outstanding of the SRs.
RR4 25% - 50% The rating of RR4 indicates that the present value of anticipated recoveries is in the range of 25%-50% of the face value outstanding of the SRs.
RR5 0% - 25% The rating of RR5 indicates that the present value of anticipated recoveries is in the range of 0%-25% of the face value outstanding of the SRs.

Recent Releases

  • TRIL Amritsar Projects Limited: [ICRA]A &; Placed under ‘rating watch with developing implications’

    Rationale / 17 Jan 2020

  • KEC International Limited: Long-term and short-term ratings reaffirmed; rated amount enhanced

    Rationale / 17 Jan 2020

  • Fine Organic Industries Limited: Long term rating upgraded to [ICRA]AA-(Stable); Short term rating reaffirmed

    Rationale / 17 Jan 2020