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Rating Rationales

16 May 2024

S&P Infrastructure Developers Private Limited: Continues to remain under issuer Non-Cooperating category

S&P Infrastructure Developers Private Limited: Continues to remain under issuer Non-Cooperating category

16 May 2024

Ralson (India) Limited: Ratings withdrawn

Ralson (India) Limited: Ratings withdrawn

16 May 2024

Zeta Microns Llp: Continues to remain under issuer non-Cooperating category

Zeta Microns Llp: Continues to remain under issuer non-Cooperating category

16 May 2024

Aastha Infracity Limited: Continues to remain under issuer Non-Cooperating category

Aastha Infracity Limited: Continues to remain under issuer Non-Cooperating category

16 May 2024

Sri KPR Infra & Projects Limited: Continues to remain under issuer Non-Cooperating category

Sri KPR Infra & Projects Limited: Continues to remain under issuer Non-Cooperating category

16 May 2024

Novel Jewels Limited: Ratings reaffirmed; rated amount enhanced

Novel Jewels Limited: Ratings reaffirmed; rated amount enhanced

16 May 2024

Southern Agencies: Continues to remain under issuer non-Cooperating category

Southern Agencies: Continues to remain under issuer non-Cooperating category

16 May 2024

New Citizen Cars: Continues to remain under issuer non-Cooperating category

New Citizen Cars: Continues to remain under issuer non-Cooperating category

16 May 2024

Sasken Technologies Limited: Ratings withdrawn

Sasken Technologies Limited: Ratings withdrawn

16 May 2024

Vedanta Limited: Ratings assigned

Vedanta Limited: Ratings assigned


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Structured Finance Rating Rationales

16 May 2024

Spandana Sphoorty Financial Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

Spandana Sphoorty Financial Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

16 May 2024

Lendingkart Finance Limited: Rating confirmed as final for PTCs backed by unsecured small business loan receivables issued by Saptrishi 2024

Lendingkart Finance Limited: Rating confirmed as final for PTCs backed by unsecured small business loan receivables issued by Saptrishi 2024

14 May 2024

Annapurna Finance Private Limited: Rating withdrawn for PTCs backed by micro loan receivables securitisation transaction

Annapurna Finance Private Limited: Rating withdrawn for PTCs backed by micro loan receivables securitisation transaction

09 May 2024

NeoGrowth Credit Private Limited: Rating confirmed as final for PTCs backed by MSME business loan receivables issued by Gemini Trust April 2024

NeoGrowth Credit Private Limited: Rating confirmed as final for PTCs backed by MSME business loan receivables issued by Gemini Trust April 2024

07 May 2024

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A backed by vehicle and construction equipment loan receivables issued by PLATINUM TRUST APR 2024 – TRANCHE III

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A backed by vehicle and construction equipment loan receivables issued by PLATINUM TRUST APR 2024 – TRANCHE III

06 May 2024

Satin Creditcare Network Limited: Ratings reaffirmed for PTCs issued under six microfinance loan securitisation transactions

Satin Creditcare Network Limited: Ratings reaffirmed for PTCs issued under six microfinance loan securitisation transactions

06 May 2024

Share Microfin Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Talitha February 2024

Share Microfin Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Talitha February 2024

03 May 2024

Sundaram Finance Limited: Rating confirmed as final for PTCs backed by pool of commercial vehicle, construction equipment and machinery loan receivables issued by Shri Trust AY 2024

Sundaram Finance Limited: Rating confirmed as final for PTCs backed by pool of commercial vehicle, construction equipment and machinery loan receivables issued by Shri Trust AY 2024

03 May 2024

Fincare Small Finance Bank Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Mysuru Feb 2024

Fincare Small Finance Bank Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Mysuru Feb 2024

03 May 2024

Fincare Small Finance Bank Limited: Ratings confirmed as final for SNs backed by loan against property receivables issued by Hampi Feb 2024

Fincare Small Finance Bank Limited: Ratings confirmed as final for SNs backed by loan against property receivables issued by Hampi Feb 2024


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

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