Last year, the company launched the country's first CMBS (Commercial Mortgage Backed Securities). It raised Rs 900 crore in two rounds of CMBS against two shopping malls -DLF Promenade and DLF Emporio - located in the national capital.
"ICRA has assigned the long-term rating of [ICRA]AA(SO) (pronounced ICRA double A Structured Obligation) to Rs 375 crore NCDs Programme of DLF Promenade Ltd (DPL)," DLF said in a filing to the BSE.
An SO rating is specific to the rated issue, its terms, and its structure. These ratings do not represent ICRA's opinion on the general credit quality of the issuers concerned, it added.
"The long term rating carries a Stable outlook."
DLF has a land bank of about 300 million sq ft, of which nearly 50 million sq ft is under construction.