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Entity-Specific Rating Rationales

02 Apr 2026

Protium Finance Limited: Rating withdrawn for PTCs backed by a secured MSME LAP loan securitisation transaction

Protium Finance Limited: Rating withdrawn for PTCs backed by a secured MSME LAP loan securitisation transaction

30 Mar 2026

Protium Finance Limited: Rating reaffirmed for PTCs issued under secured MSME (LAP) loan receivables securitisation transaction

Protium Finance Limited: Rating reaffirmed for PTCs issued under secured MSME (LAP) loan receivables securitisation transaction

16 Mar 2026

Protium Finance Limited: Rating withdrawn for PTCs backed by a secured MSME LAP loan securitisation transaction

Protium Finance Limited: Rating withdrawn for PTCs backed by a secured MSME LAP loan securitisation transaction

28 Jan 2026

Protium Finance Limited: Rating reaffirmed for PTCs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

Protium Finance Limited: Rating reaffirmed for PTCs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

22 Dec 2025

Protium Finance Limited: Rating reaffirmed for SNs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

Protium Finance Limited: Rating reaffirmed for SNs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

28 Nov 2025

Protium Finance Limited: Rating reaffirmed for PTCs issued under secured MSME (LAP) loan receivables securitisation transaction

Protium Finance Limited: Rating reaffirmed for PTCs issued under secured MSME (LAP) loan receivables securitisation transaction

12 Mar 2025

Protium Finance Limited: Rating confirmed as final for PTCs issued under a secured MSME (LAP) loan receivables securitisation transaction

Protium Finance Limited: Rating confirmed as final for PTCs issued under a secured MSME (LAP) loan receivables securitisation transaction

17 Jan 2025

Protium Finance Limited: Rating upgraded for PTCs issued under secured MSME (LAP) loan receivables securitisation transaction

Protium Finance Limited: Rating upgraded for PTCs issued under secured MSME (LAP) loan receivables securitisation transaction

19 Dec 2024

Protium Finance Limited: Rating upgraded for SNs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

Protium Finance Limited: Rating upgraded for SNs issued under secured MSME (LAP) and machinery loan receivables securitisation transaction

27 Nov 2024

Protium Finance Limited: Rating upgraded for PTCs issued under secured MSME (LAP) loan receivables securitisation transactions

Protium Finance Limited: Rating upgraded for PTCs issued under secured MSME (LAP) loan receivables securitisation transactions


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Entity-Specific Credit Perspective Reports

15 Nov 2024

Protium Finance Limited

Protium Finance Limited (SF)

29 Jan 2024

Protium Finance Limited

Protium Finance Limited (SF)

08 Sep 2023

Protium Finance Limited

Protium Finance Limited (SF)

23 Aug 2023

Protium Finance Limited

Protium Finance Limited (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTC -- -- Withdrawn --
Series A PTCs -- -- [ICRA]AA+(SO) --
Series A PTC -- -- Withdrawn --
Series A1 PTCs -- -- [ICRA]AAA(SO) --
Series A1 SNs -- -- [ICRA]AA+(SO) --

Our Analysts

Analyst 1

Samratsingh Hazari

Analyst 2

Himanshi Doshi

Sector Head

Abhishek Dafria
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