Ashok Leyland’s ICRA ratings reaffirmed at AA+ (Stable) and A1+ on ₹7,379 crore of borrowings
- Credit rating
- Automobiles - 4 Wheelers
Ashok Leyland Limited has told the exchanges on 9 Oct 2026 that ICRA Limited has reaffirmed its ratings on a total of ₹7,379.38 crore of instruments and facilities. Commercial paper of ₹2,000 crore is rated [ICRA]A1+, and non-convertible debentures of ₹200 crore and ₹300 crore are rated [ICRA]AA+ (Stable).
Fund-based limits of ₹2,000 crore, non-fund-based limits of ₹1,500 crore and unallocated limits of ₹750 crore carry a dual rating of [ICRA]AA+ (Stable)/[ICRA]A1+, and a fund-based term loan of ₹629.38 crore is rated [ICRA]AA+ (Stable). All the actions are reaffirmations. The company gave the time of the event as 11:54 hours on 9 Oct 2026.
Inference
A reaffirmation means ICRA has made no change to the ratings or outlook on any of the instruments. The filing lists only the rating table, so the reasons behind the ratings are not stated.
Reference: Original filing (PDF)
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