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PDF V1 Ratings criteria for the cement industry EdV1 - CRISIL

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The steps followed for arriving at the short-term rating are: Step 1: Assess the underlying credit quality of the issuer, as reflected in its long-term rating Step 2: Assess liquidity

Annexure Rating scale and definition used prior to changes carried out pursuant to SEBI guidelines in July 2021 Rating Definition Indicative EL Ranges CRISIL INFRA EL 1 Lowest

Fund-based facilities Rating scale Bill purchase/discounting Short term Factoring/forfaiting Short term Post-shipment credit Short term Short-term loan Short term

• Direct credit assessment: Ideally, ratings assigned to foreign entities on the global scale are to be compared with probable ratings that would have been assigned to these entities

Conclusion CRISIL Ratings considers business mix, market position, investment policy and quality, risk management, capitalisation, earnings, and liquidity as the business and

1 Analytical Team: CRISIL Ratings webinar on the dairy sector: Adding value to milk June 29, 2021 Anuj Sethi Senior Director, CRISIL Ratings Mohit Makhija Director, CRISIL

CRISIL Ratings has established, maintained, documented, and enforced policies, procedures, and controls to protect confidential and/or material non-public information, including

In case of substantial progress in sharing of final documentation / steps and where the documentation received is in line with expectations, CRISIL Ratings may grant extension of the