ICRA reaffirms ICICI Lombard's issuer rating at ‘ICRA AAA'; stock skids ~1.5%

21 Sep 2022 , 01:02 PM

ICICI Lombard General Insurance Company Limited informed that ICRA Limited has reaffirmed its issuer rating at ‘ICRA AAA.’ The outlook on long-term rating has been reaffirmed at Stable.

“Instruments with ICRA AAA rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk,” said ICRA.

The aforesaid rating will be valid till September 19, 2023. The rating agency has reviewed instruments worth Rs255 crore.

At around 12.51 PM, ICICI Lombard was trading 1.15% lower at Rs1,201.70, against the previous close of Rs1,215.65 on NSE. So far, it hit an intraday high and low of Rs1,221.25 and Rs1,195.75 respectively.

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