12%. If the credit rating of the Debentures is downgraded from ICRA BBB or the credit rating of the Company is downgraded from BBB, the coupon rate will be increased by 0.25% for a downgrade to BBB- and by an additional 0.50% for each notch below BBB-. If the rating of the Debentures or the Company is upgraded, the coupon rate will be decreased by 0.25% for an upgrade from BBB- to BBB and by 0.50% for each notch below BBB- until it is restored to ICRA BBB for the Debentures or BBB for the Company.