ICICI Prudential Mutual Fund said it continues to remain comfortable with the investment in NCDs issued by EMIL that was downgraded by Crisil. The rating agency downgraded EMIL's credit rating from AA to AA- on August 11.
ICICI Prudential Mutual Fund, through its various schemes, has investments aggregating Rs 456 crore in Non-convertible Debentures (NCDs) issued by EMIL, which constitutes 0.27 per cent of our overall debt AUM available with the Mutual Fund.