Credit Rating – Applicable for Infrastructure Investments

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l:l:ltlti ir.iai \il{~1tl it1'T fclf:tttl+1cfi ~ ffl Sllfucfi{Oj INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA ~lf ~.:'3ITf~'3ITf~ ~ '3ITfRfi'3ITf'3fRl'311{({-1cft1ooa,0112021 Ref No.: IRDAI/F&I/CIR/INV/008/01/2021 fa.:iict> / Date:05-01-2021 ~ lffi@T-'{fll i cf> -1-'3fTCUR1{a ti -l =q -1 I Pi 4 ~ri ~ ~ ffl1l Credit Rating - Applicable for Infrastructure Investments 3fl{~3fl{ ~) Rl~lll1, 2016 $ fcl~q1-1 14(2) $ ~ ~1Fcttim· cf)f ~ q;-ra ~~ 411-11q5af'3ffcp)~~if<l> · ~<pa f.w<r· ~3fll~~~--~1" ~ ~ ~ ~ ~ -~· ~ Qnf R ~ ~ lfQT '3ITW'l@ ~xiHI $qf.-lii'i ~ ~ '3fTCUR1{a "1-liH I f;rcr-u 'Pl cl'ffcpa <R '3fR ~ ~-~ ~ ~ ~ ~ WJft ~ ~ "3t l{{l{cl aft .. WJft <ITT6 ~ '3@11ct ~-i-llcil-& M \ifRT ~ I In exercise of powers under Regulation 14(2) of the IRDAI (Investments) Regulations, 2016 the Authority directs Insurers to classify Infrastructure investments, issued by Infrastructure Companies, rated not less than "A" along with an Expected Loss Rating of "EL 1" as part of "Approved Investment" and should be listed under Category Code "IELB" as per Category of Investment under Master Circular - Investments. ~ '3fll1, ~ tfi fcl> -~ "lTT -~1• ~~ '3ITW1id ~xiHI ~~ -SkH~-5 mcp) -~ ~ ~3fll~~~1:f!: qiffcpa m '3{R~~-~~ ~~~ WJft~ ~<ITT6 --3fl{~· WJft~~~fcl,-Q"GfR~dilq~qq5a1 ~, J4-(l® ~ ~ '{fllicf5'i q'T ill 'Q"CP'3-!l{l{Al{Ad1({ ~ ~ Jifllifct;a ~ ~ "lTT 00 ~ tffil tjJlcpa ~~~&RI l.lcf51~1d ~~~~tR~ ~I Further, any downgrade of Infrastructure Investment, below "A" or "EL 1", needs to be re-classified as part of "Other Investments" and reported under Category Code "IOEL" as per Category of Investment under Master Circular - Investments. The valuation of the above investments, shall be valued "either as per FIMMDA or at applicable market yield rates published by any Rating Agency registered with SEBI". Sd/- (~."Cf-,. u1qffitH / S. N. Jayasimhan) TTt'l-flTTT'cr:Jaf-~ / HOD-Investments ~ -;t. 11~ •-= ~~ <11'1ifi(l:~-s1, ~-50~ 032, Wl'f I Survey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India · 20 4ooo ~ · www.,rda1.gov.m 6) : +91-40-2020 4000 Website : www · d · · .ir a1.gov.m