bg-rating-rationales

Entity-Specific Rating Rationales

22 Jul 2026

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

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

30 Jun 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by NAMAN TRUST PTC June 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by NAMAN TRUST PTC June 2026

30 Jun 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by Phoenix Trust PTC June 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by Phoenix Trust PTC June 2026

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