Persistent Systems Ltd receives ICRA ratings, including a watch with negative implications

Persistent Systems Ltd announced that ICRA Limited has assigned a rating of [ICRA]A1+ to its Commercial Paper of Rs 1,000.00, while also assigning a Rating Watch with Negative Implications to its Non-Convertible Debentures of Rs 2,000.00 and Rs 5,000.00, both carrying a rating of [ICRA]AA+, and continuing to maintain the same rating watch status for its existing Non-Convertible Debentures of Rs 5,000.00 and Rs 2,000.00; ICRA has also affirmed its Issuer Rating of AA+ and continues to place it on Rating Watch with Negative Implications, noting that SEBI’s grievance redressal/dispute resolution and investor protection mechanisms will not be available for these instruments; additionally, ICRA assigned a rating of AA+ to Debentures of Rs 2,000.00, and [ICRA]A to Non-Convertible Debentures of Rs 5,000.00, and assigned [ICRA] A1+ to Commercial Paper of Rs 1,000.00, with a Programme carrying N/A ratings, all while reiterating that the ratings are specific to the terms and conditions of the instruments and are valid throughout the life of the programme.