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Rating Rationales

20 Dec 2024

ABC Leathers: Rating reaffirmed

ABC Leathers: Rating reaffirmed

20 Dec 2024

Agarwal Motors (Prop. of Concord Tie-up Private Limited): Continues to remain under issuer Non-Cooperating category

Agarwal Motors (Prop. of Concord Tie-up Private Limited): Continues to remain under issuer Non-Cooperating category

20 Dec 2024

Ajnara India Limited: Continues to remain under issuer Non-Cooperating category

Ajnara India Limited: Continues to remain under issuer Non-Cooperating category

20 Dec 2024

APR Constructions Limited: Continues to remain under issuer Non-Cooperating category

APR Constructions Limited: Continues to remain under issuer Non-Cooperating category

20 Dec 2024

Arambhan Hospitality Services Limited (Erstwhile Cawasji Behramji Catering Services Limited): Continues to remain under issuer non-cooperating category

Arambhan Hospitality Services Limited (Erstwhile Cawasji Behramji Catering Services Limited): Continues to remain under issuer non-cooperating category

20 Dec 2024

Cigora Exim Private Limited: Continues to remain under issuer Non-Cooperating category

Cigora Exim Private Limited: Continues to remain under issuer Non-Cooperating category

20 Dec 2024

Dindayal Jalan Textiles Ltd: Continues to remain under issuer Non-Cooperating category

Dindayal Jalan Textiles Ltd: Continues to remain under issuer Non-Cooperating category

20 Dec 2024

Dwarkadhis Buildwell Private Limited: Continues to remain under issuer Non-Cooperating category

Dwarkadhis Buildwell Private Limited: Continues to remain under issuer Non-Cooperating category

20 Dec 2024

Frank Lifecare Private Limited: Continues to remain under issuer Non-Cooperating category

Frank Lifecare Private Limited: Continues to remain under issuer Non-Cooperating category

20 Dec 2024

Gaurav International: Ratings reaffirmed

Gaurav International: Ratings reaffirmed


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Structured Finance Rating Rationales

20 Dec 2024

Cholamandalam Investment and Finance Company Limited: Ratings withdrawn for PTCs issued under vehicle loan receivables transaction

Cholamandalam Investment and Finance Company Limited: Ratings withdrawn for PTCs issued under vehicle loan receivables transaction

20 Dec 2024

Shriram Finance Limited: Rating withdrawn for PTCs issued under vehicle loan securitisation transactions

Shriram Finance Limited: Rating withdrawn for PTCs issued under vehicle loan securitisation transactions

19 Dec 2024

Berar Finance Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC backed by two-wheeler loan receivables issued by Duchess 2024

Berar Finance Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC backed by two-wheeler loan receivables issued by Duchess 2024

19 Dec 2024

Protium Finance Limited: Rating upgraded for SNs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

Protium Finance Limited: Rating upgraded for SNs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

18 Dec 2024

Piramal Enterprises Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by personal loan receivables issued by Ved Trust PTC 2024

Piramal Enterprises Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by personal loan receivables issued by Ved Trust PTC 2024

16 Dec 2024

Muthoot Microfin Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Victory 2024

Muthoot Microfin Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Victory 2024

16 Dec 2024

Vriksh Advisors Private Limited: Provisional [ICRA]BBB-(SO) assigned to PTCs backed by lease rental receivables issued by Grip Prosperity Asset 2

Vriksh Advisors Private Limited: Provisional [ICRA]BBB-(SO) assigned to PTCs backed by lease rental receivables issued by Grip Prosperity Asset 2

12 Dec 2024

Aviom India Housing Finance Pvt Ltd: Rating moved to Non-Cooperating category and continuous on Rating Watch with Negative Implications.

Aviom India Housing Finance Pvt Ltd: Rating moved to Non-Cooperating category and continuous on Rating Watch with Negative Implications.

11 Dec 2024

Shriram Finance Limited: Rating actions for five PTCs issued under vehicle loan securitisation transactions

Shriram Finance Limited: Rating actions for five PTCs issued under vehicle loan securitisation transactions

09 Dec 2024

Shriram Finance Limited: Provisional ratings assigned to PTCs backed by vehicle and construction equipment loan receivables issued by Sansar Aug 2024 X Trust

Shriram Finance Limited: Provisional ratings assigned to PTCs backed by vehicle and construction equipment loan receivables issued by Sansar Aug 2024 X Trust


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ICRA's Rating process starts when the issuer contacts
our business team to engage our services.

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18 Dec 2024 04:00 PM

ICRA Webinar on Key Trends and Outlook for the NBFC-MFI Sector

--By Mr. Karthik Srinivasan,Mr. AM Karthik,Mr. Prateek Mittal
PPT
12 Dec 2024 04:00 PM

ICRA Webinar on the Steel Industry: Trends & Outlook

--By Mr. Girishkumar Kadam,Mr. Vikram V,Mr. Ritabrata Ghosh
PPT
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