bg-rating-rationales

Entity-Specific Rating Rationales

22 Apr 2026

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by Twix 09 2025

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by Twix 09 2025

31 Mar 2026

Progfin Private Limited: Provisional [ICRA]A+(SO) assigned to Series A1 SN to be issued by Jupiter 03

Progfin Private Limited: Provisional [ICRA]A+(SO) assigned to Series A1 SN to be issued by Jupiter 03

30 Mar 2026

Progfin Private Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC to be issued by Lotus 03 2026

Progfin Private Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC to be issued by Lotus 03 2026

23 Mar 2026

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by Kimi 10 2025

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by Kimi 10 2025

23 Mar 2026

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by Gabriel 09 2025

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by Gabriel 09 2025

09 Mar 2026

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Tetrix 02 2026

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Tetrix 02 2026

16 Feb 2026

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by MARS 10 2025

Progfin Private Limited: Rating confirmed as final for PTCs backed by invoice financing receivables to be issued by MARS 10 2025

05 Feb 2026

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Cerulean 01 2026

Progfin Private Limited: Provisional [ICRA]A1+(SO) assigned to Series A1 PTC to be issued by Cerulean 01 2026

15 Jan 2026

Progfin Private Limited: [ICRA] BBB+ (Stable) assigned; ratings reaffirmed

Progfin Private Limited: [ICRA] BBB+ (Stable) assigned; ratings reaffirmed

12 Jan 2026

Progfin Private Limited: Ratings confirmed as final for PTCs backed by invoice financing receivables to be issued by Arceus 2025

Progfin Private Limited: Ratings confirmed as final for PTCs backed by invoice financing receivables to be issued by Arceus 2025