NCD’s (Non Convertible Debentures) - Credit Rating

Srei Equipment Finance Limited.

PARTICULARSCAREICRABRICKWORKACUITE
Short Term Debt Instruments & Commercial Paper CARE A1+ ICRA A1+ - -
Secured Redeemable NCDs CARE AA - BWR AA+ ACUITE AA+
Subordinate Redeemable
(Tier II) NCDs
CARE AA- -BWR AA+ACUITE AA+
Perpetual DebenturesCARE A+ - - -

*As on 30th September 2018