bg-rating-rationales

Entity-Specific Rating Rationales

27 Oct 2025

Progfin Private Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC to be issued by MARS 10 2025

Progfin Private Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC to be issued by MARS 10 2025

27 Oct 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Kimi 10 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Kimi 10 2025

07 Oct 2025

Progfin Private Limited: Provisional [ICRA]A1(SO) assigned to Series A1 PTC to be issued by Gabriel 09 2025

Progfin Private Limited: Provisional [ICRA]A1(SO) assigned to Series A1 PTC to be issued by Gabriel 09 2025

03 Oct 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Twix 09 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Twix 09 2025

29 Sep 2025

Progfin Private Limited: Ratings reaffirmed; Rated amount enhanced

Progfin Private Limited: Ratings reaffirmed; Rated amount enhanced

23 Sep 2025

Progfin Private Limited: [ICRA]BBB+ (Stable) assigned to non-convertible debentures; earlier ratings reaffirmed

Progfin Private Limited: [ICRA]BBB+ (Stable) assigned to non-convertible debentures; earlier ratings reaffirmed

03 Sep 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1a PTCs, Provisional [ICRA]A1+(SO) assigned to Series A1b PTCs and Provisional [ICRA]A1(SO) assigned to Series A2 PTCs to be issued by Arceus 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1a PTCs, Provisional [ICRA]A1+(SO) assigned to Series A1b PTCs and Provisional [ICRA]A1(SO) assigned to Series A2 PTCs to be issued by Arceus 2025

28 Aug 2025

Progfin Private Limited: [ICRA]BBB+ (Stable) assigned to non-convertible debentures; ratings reaffirmed

Progfin Private Limited: [ICRA]BBB+ (Stable) assigned to non-convertible debentures; ratings reaffirmed

07 Aug 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Piastri 07 2025

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Piastri 07 2025

06 Aug 2025

Progfin Private Limited: [ICRA]A2 assigned to commercial paper; earlier ratings reaffirmed

Progfin Private Limited: [ICRA]A2 assigned to commercial paper; earlier ratings reaffirmed