None of these developments may, per se, be indicative of unwise or imprudent  6  A “best efforts” syndication entails a commitment by the arranging banks for less than the entire amount of financing. If the loan is undersubscribed, the deal may not close or terms may need to be adjusted to induce greater investor demand.
Regarding ratings, although issuers with credit rating of P2 of CRISIL or equivalent can raise resources through CP, in effect, the CP issuance is dominated by the prime-rated companies i.e., companies having credit rating of P1+ or its equivalent. Even then, there has been some decline in the share of CPs issued by prime-rated companies.