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Entity-Specific Rating Rationales

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

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 -- -- [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

Abhishek Dafria
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