Kolkata : In the first rating of its kind in India, credit rating agency ICRA Ltd
has assigned `CGR2’ rating to ITC Ltd for good corporate governance. The rating is on
a scale of CGR1 to CGR6 – CGR1 denotes highest rating.
CGR2 implies that the rated company has
adopted and follows such practices, conventions and codes as would provide its financial
stakeholders a high level of assurance on the quality of corporate governance. However,
ICRA added the rating is not a certificate of statutory compliance or a comment on the
company’s future performance, credit ratings or stock price.
