India Ratings & Research (Ind-Ra) has assigned Blue Dart Express (BDEL) proposed Rs 3,322 million non-convertible debentures (NCD) issue an 'AA(exp)' rating.

The agency has also assigned the company a long-term issuer rating of 'AA' with stable outlook and affirmed its Rs 300 million commercial paper/short-term debt programme at 'A1+'.

Shares of the company declined Rs 20.25, or 0.43%, to settle at Rs 4,694.60. The total volume of shares traded was 9,230 at the BSE (Thursday).