Stage 1
MUR'000
External rating grade
Performing:
Credit rating AAA 1,516,644 1,516,644
Credit rating AA+ to AA- 1,069,659 1,069,659
Credit rating A+ to A- 712,354 712,354
Credit rating BBB+ to BBB- 8,955,768 8,955,768
Credit rating BB+ to BB- 717,391 717,391
Total gross carrying amount 12,971,816 12,971,816
Loss allowance (3,886) (3,886)
12,967,930 
An analysis of changes in the gross carrying amount and the corresponding ECLs is, as follows Stage 1
12-months ECL
MUR'000
Gross carrying amount at 01 July 2018 5,164,742 5,164,742
New financial assets originated 12,971,817 12,971,817
Financial assets that have been repaid (5,164,743) (5,164,743)
Gross carrying amount at 30 June 2019 12,971,816 12,971,816
Allowance for impairment losses Stage 1
12-months ECL
MUR'000
Loss allowance as at 01 July 2018 - -
- Effect of adopting IFRS 9 226 226
Loss allowance as at 01 July 2018 (as restated) 226 226
Loss allowance as at 01 July 2018 (as restated) 226 3,886
Financial assets that have been repaid (226) (226)
Loss allowance as at 30 June 2019 3,886 3,886