ICRA reaffirms AAA rating on NCDs; assigns for proposed debt

ICRA reaffirmed its highest AAA (Stable) rating on Knowledge Realty Trust's existing Non-Convertible Debentures of about Rs 3,200 crore and on the corporate issuer rating. It also assigned AAA (Stable) to a proposed NCD of Rs 1,000 crore. Crisil similarly reaffirmed AAA Stable on the same instruments. Total rated debt stands at Rs 4,200 crore, reflecting strong credit quality.