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Entity-Specific Rating Rationales

27 Aug 2025

InCred Financial Services Limited: Ratings reaffirmed

InCred Financial Services Limited: Ratings reaffirmed

07 Jul 2025

InCred Financial Services Limited: Provisional ratings assigned to PTCs backed by a pool of personal loan receivables issued by Pinaka June 2025

InCred Financial Services Limited: Provisional ratings assigned to PTCs backed by a pool of personal loan receivables issued by Pinaka June 2025

26 May 2025

InCred Financial Services Limited: Rating confirmed as final for PTCs backed by personal loan receivables issued by Invictus March-2025

InCred Financial Services Limited: Rating confirmed as final for PTCs backed by personal loan receivables issued by Invictus March-2025

27 Mar 2025

InCred Financial Services Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by personal loan receivables issued by Invictus March-2025

InCred Financial Services Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by personal loan receivables issued by Invictus March-2025

05 Mar 2025

InCred Financial Services Limited: Update on material event

InCred Financial Services Limited: Update on material event

28 Aug 2024

InCred Financial Services Limited: Ratings reaffirmed and assigned to fresh/enhanced limits

InCred Financial Services Limited: Ratings reaffirmed and assigned to fresh/enhanced limits

03 Jun 2024

InCred Financial Services Limited: Long term Rating reaffirmed and assigned for NCD and short term Rating reaffirmed

InCred Financial Services Limited: Long term Rating reaffirmed and assigned for NCD and short term Rating reaffirmed

28 Mar 2024

InCred Financial Services Limited: [ICRA]AA- (Stable)/[ICRA]A1+ assigned

InCred Financial Services Limited: [ICRA]AA- (Stable)/[ICRA]A1+ assigned

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Entity-Specific Credit Perspective Reports

08 Jul 2025

InCred Financial Services Limited

InCred Financial Services Limited (SF)

01 Apr 2025

InCred Financial Services Limited

InCred Financial Services Limited (SF)

30 Apr 2024

InCred Financial Services Limited

InCred Financial Services Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
PTC Series A1 -- -- Provisional [ICRA]AAA(SO) --
PTC Series A2 -- -- Provisional [ICRA]AA+(SO) --
PTC Series A1 -- -- [ICRA]AA+(SO) --
Non-Convertible Debentures -- -- [ICRA]AA-(Stable) --
Commercial Paper [ICRA]A1+ -- -- --
Market Linked Debentures -- -- [ICRA]AA-(Stable)PP-MLD --
Short-term bank lines * -- -- --

Our Analysts

Analyst 1

Arijit Datta

Analyst 2

Gaurav Mashalkar

Sector Head

Manushree Sagar
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11 Sep 2025 04:00 PM

Residential Real Estate Sector- From Euphoria to Equilibrium: Has the Real Estate Rush Peaked?

Residential Real Estate Sector- From Euphoria to Equilibrium: Has the Real Estate Rush Peaked?
--By Ms. Anupama Reddy,Ms. Sweta Shroff
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18 Sep 2025 04:00 PM

The Indian Pharmaceutical Industry- Industry at a Crossroads: Navigating Global Challenges and Local Opportunities

The Indian Pharmaceutical Industry- Industry at a Crossroads: Navigating Global Challenges and Local Opportunities
--By Ms. Kinjal Shah,Mr. Deepak Jotwani
 8 days Left
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13 Aug 2025 04:00 PM

ICRA Webinar on Indian Gas Utilities: Trends and Outlook

--By Mr Girishkumar Kadam,Mr Prashant Vasisht
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30 Jul 2025 04:00 PM

Affordable Housing Finance- Trends and Outlook

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