Aditya Birla Capital Limited — Credit Ratings, 09-04-2025: Credit Rating

India Ratings and Research and ICRA Limited have reaffirmed and assigned ratings for Aditya Birla Capital Limited's debt instruments and bank facilities following the recent amalgamation with Aditya Birla Finance Limited.

India Ratings has assigned a Long-Term Issuer Rating of 'IND AAA' with a Stable Outlook. Notable ratings include:

- Commercial Paper: ₹15,000.00 cr rated IND A1+ (assigned)

- Principal Protected Market-Linked Debentures: ₹1,523.30 cr rated IND PP-MLD AAA/Stable (assigned)

- Lower Tier-2 Subordinated Debt: ₹4,150.00 cr rated IND AAA/Stable (assigned)

- Perpetual Debt: ₹700.00 cr rated IND AA+/Stable (assigned)

- Non-Convertible Debentures: ₹30,906.60 cr rated IND AAA/Stable (assigned)

- Bank Loans: ₹70,000.00 cr rated IND AAA/Stable (assigned)

Total Ratings from India Ratings amount to ₹1,26,279.90 cr.

ICRA Limited's ratings reaffirmations and assignments include:

- Non-Convertible Debentures: ₹200 cr rated [ICRA]AAA (Stable)

- Commercial Paper: ₹20,900.00 cr rated [ICRA]A1+ (reaffirmed and assigned for enhanced amount)

- Subordinated Debt Programme: ₹7,805.00 cr rated [ICRA]AAA (Stable) (assigned)

- Bank Lines: ₹90,000.00 cr rated [ICRA]AAA (Stable)/[ICRA]A1+ (assigned)

- Total Ratings from ICRA amount to ₹1,79,867.10 cr.

The strong ratings reflect the company's robust financial health, revenue stability, and strong market position, contributing to a favorable borrowing cost outlook. Investor sentiment is likely to remain positive, given the reassurances of stability from both rating agencies.