8.96%. If the rating of the Debentures is downgraded from its current rating by any credit rating agency, the coupon rate will be increased by 0.25% for each notch of downgrade. If the rating of the Debentures is restored to the rating prior to the downgrade event, the coupon rate will be decreased by 0.25% for each notch of upgrade.

A. K. Capital Finance Limited

Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.