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Entity-Specific Rating Rationales

18 May 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for Series A1 PTCs issued under used car loan receivables

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for Series A1 PTCs issued under used car loan receivables

27 Apr 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) : Rating reaffirmed for Series A1 SNs issued under home loan receivables

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) : Rating reaffirmed for Series A1 SNs issued under home loan receivables

20 Apr 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for PTCs issued under personal loans securitisation transaction

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for PTCs issued under personal loans securitisation transaction

23 Mar 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) : Rating confirmed as final for Series A1 PTCs backed by used car loan receivables issued by Phoenix Trust PTC Oct 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) : Rating confirmed as final for Series A1 PTCs backed by used car loan receivables issued by Phoenix Trust PTC Oct 2025

16 Mar 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Long-term rating upgraded to [ICRA]AA+ (Stable)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Long-term rating upgraded to [ICRA]AA+ (Stable)

27 Jan 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Ratings reaffirmed for purchaser payouts and PTCs issued under four mortgage loan securitisation transactions

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Ratings reaffirmed for purchaser payouts and PTCs issued under four mortgage loan securitisation transactions

27 Jan 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Ratings withdrawn for PTC and SLF issued under a mortgage loan securitisation transaction

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Ratings withdrawn for PTC and SLF issued under a mortgage loan securitisation transaction

21 Jan 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 SNs backed by personal loan receivables issued by NEXA TRUST SEPT 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 SNs backed by personal loan receivables issued by NEXA TRUST SEPT 2025

21 Jan 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 PTCs backed by used car loan receivables issued by Naman Trust PTC Sept 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 PTCs backed by used car loan receivables issued by Naman Trust PTC Sept 2025

13 Jan 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 PTCs backed by personal loan receivables issued by VED TRUST PTC JULY 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 PTCs backed by personal loan receivables issued by VED TRUST PTC JULY 2025