Hyderabad Metropolitan Development Authority 8.5% 2030 Bond

What the rating means

AAmost conservative current agency grade

Each rung groups an agency grade's +/- notches: “AA”, for example, covers AA+, AA and AA-. AAA, C and D are single grades.

AA-grade bonds are judged to have a very strong capacity to repay, only marginally weaker than AAA. They are considered high safety, with low sensitivity to adverse business or economic conditions. Ratings are agency opinions that can change over time, and a rating is not a guarantee of repayment.

Disclosed rating string: Provisional IND AA(CE)/Stable

This describes the bond's credit rating only. Interest-rate, liquidity and reinvestment risks are covered in “Before you act”.