10.21%. If the rating of the debentures is downgraded below AA- by any rating agency, the coupon rate will be increased by 0.25% for every notch of downgrade in the rating. If the rating of the debentures is upgraded by any rating agency, the coupon rate will be decreased by 0.25% for every notch of upgrade in the rating until the original rating is restored.

JM Financial Asset Reconstruction Company Limited - INE265J07555

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.