ICRA reaffirms “[ICRA]AAA(Stable)” rating for Niva Bupa Health Insurance, assigning multiple debt ratings

Niva Bupa Health Insurance Company Ltd announced that ICRA Limited has reaffirmed its “[ICRA]AAA (Stable)” rating for the Issuer Rating and assigned “[ICRA]AA+(Stable)” ratings to the Subordinated Debt instruments amounting to Rs 500.00 crores and another subordinated debt instrument of 500.00, while also assigning a AAA rating to a Bank Loan of Rs 500 crore with surveillance due in one year; furthermore, ICRA has provided an initial rating of ICRA AA- to Tier II Bonds of Rs 500 Crore, noting that the rating reflects [further details from the text], and reaffirmed the Issuer Rating at [ICRA]AAA(Stable) with a total of -; finally, the rating agency noted that since no instrument is being rated, the Financial Sector Regulator is not applicable.