Icra Begins Governance Ratings With Itc

Rating agency Icra has assigned its first corporate-governance rating to ITC. The rating agency has assigned CGR2 to the tobacco major on a rating scale of CGR1 to CGR6, where CGR 1 denotes the highest rating. This is the first corporate-governance rating in the country.

According to Icra, the rating indicates that the company has adopted and followed the practices, conventions, and codes, that would provide its financial stakeholders a high level of assurance on the quality of corporate governance.

It, however, added that the rating was not a certificate of statutory compliance or a comment on ITC