5.1.3.1 Qualifying Grade for a Security/Issue

Security is deemed to be qualifying for the context of LMR (Qualifying ECAI Issue-specific rating is Yes) if it satisfies the criteria in the following table.

Table 4-4 Criteria for Qualifying Grade for a Security/Issue

Issuer Domicile	Standard Party Type (Issuer OR Guarantor)	Credit Quality Grade Instrument (Processing)	Qualifying ECAI Issue Specific Rating
Other than India		1	Yes
		2	Yes
		1s	Yes
		2s	Yes
India	Other than Corporates	1	Yes
		2	Yes
		1s	Yes
		2s	Yes
India	Corporates	1	Yes
		2	Yes
		3	Yes
		1s	Yes
		2s	Yes
		3s	Yes