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Entity-Specific Rating Rationales

18 Jun 2026

Bajaj Finance Ltd.: Ratings reaffirmed; rating assigned for bank facilities programme

Bajaj Finance Ltd.: Ratings reaffirmed; rating assigned for bank facilities programme

18 Jun 2026

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH Feb 2026 Series

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH Feb 2026 Series

12 May 2026

Bajaj Finance Ltd.: Ratings reaffirmed; rating assigned for enhanced amount under commercial paper programme

Bajaj Finance Ltd.: Ratings reaffirmed; rating assigned for enhanced amount under commercial paper programme

06 Apr 2026

Bajaj Finance Ltd.: Ratings reaffirmed; rating simultaneously reaffirmed and withdrawn for matured instruments

Bajaj Finance Ltd.: Ratings reaffirmed; rating simultaneously reaffirmed and withdrawn for matured instruments

09 Mar 2026

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH November 2025 Series

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH November 2025 Series

24 Feb 2026

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH October 2025 Series

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH October 2025 Series

23 Feb 2026

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH FEB 2026 SERIES

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH FEB 2026 SERIES

19 Nov 2025

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH November 2025 Series

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH November 2025 Series

23 Oct 2025

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new and used passenger vehicle loan receivables issued by Pharaoh October 2025 Series Trust

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new and used passenger vehicle loan receivables issued by Pharaoh October 2025 Series Trust

16 Jun 2025

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new passenger vehicle loan receivables issued by Pharaoh PTC Mar 2025 Series I Trust

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new passenger vehicle loan receivables issued by Pharaoh PTC Mar 2025 Series I Trust