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Entity-Specific Rating Rationales

05 Nov 2024

Five-Star Business Finance Limited: Rating confirmed as final for PTCs backed by small business loan receivables issued by Dhruva XXIV

Five-Star Business Finance Limited: Rating confirmed as final for PTCs backed by small business loan receivables issued by Dhruva XXIV

24 Oct 2024

Five-Star Business Finance Limited: Provisional rating assigned to PTCs backed by small business loan receivables issued by Dhruva XXIV

Five-Star Business Finance Limited: Provisional rating assigned to PTCs backed by small business loan receivables issued by Dhruva XXIV

15 Oct 2024

Five-Star Business Finance Limited: Ratings reaffirmed for PTCs issued under small business loans securitisation transactions

Five-Star Business Finance Limited: Ratings reaffirmed for PTCs issued under small business loans securitisation transactions

18 Sep 2024

Five-Star Business Finance Limited: Ratings confirmed as final for PTCs backed by small business loan receivables issued by Dhruva XXIII

Five-Star Business Finance Limited: Ratings confirmed as final for PTCs backed by small business loan receivables issued by Dhruva XXIII

11 Sep 2024

Five-Star Business Finance Limited: Provisional ratings assigned to PTCs backed by small business loan receivables issued by Dhruva XXIII

Five-Star Business Finance Limited: Provisional ratings assigned to PTCs backed by small business loan receivables issued by Dhruva XXIII

09 Sep 2024

Five-Star Business Finance Limited: Rating confirmed as final for PTCs backed by small business loan receivables issued by Dhruva XXII

Five-Star Business Finance Limited: Rating confirmed as final for PTCs backed by small business loan receivables issued by Dhruva XXII

04 Sep 2024

Five-Star Business Finance Limited: Rating reaffirmed and rated amount enhanced

Five-Star Business Finance Limited: Rating reaffirmed and rated amount enhanced

28 Aug 2024

Five-Star Business Finance Limited: Provisional rating assigned to PTCs backed by small business loan receivables issued by Dhruva XXII

Five-Star Business Finance Limited: Provisional rating assigned to PTCs backed by small business loan receivables issued by Dhruva XXII

22 Aug 2024

Five-Star Business Finance Limited: Rating withdrawn for PTCs issued under small business loan securitisation transaction

Five-Star Business Finance Limited: Rating withdrawn for PTCs issued under small business loan securitisation transaction

14 Jun 2024

Five-Star Business Finance Limited: Rating actions for PTCs issued under small business loan securitisation transactions

Five-Star Business Finance Limited: Rating actions for PTCs issued under small business loan securitisation transactions


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Entity-Specific Credit Perspective Reports

24 Oct 2024

Five-Star Business Finance Limited

Five-Star Business Finance Limited (SF)

26 Sep 2024

Five-Star Business Finance Limited

Five-Star Business Finance Limited (Non-SF)

11 Sep 2024

Five-Star Business Finance Limited

Five-Star Business Finance Limited (SF)

28 Aug 2024

Five-Star Business Finance Limited

Five-Star Business Finance Limited (SF)

13 Feb 2024

Five-Star Business Finance Limited

Five-Star Business Finance Limited (Non-SF)

22 Sep 2023

Five-Star Business Finance Limited

Five-Star Business Finance Limited (SF)

05 Apr 2023

Five-Star Business Finance Limited

Five-Star Business Finance Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
PTC Series A -- -- [ICRA]AAA(SO) --
PTC Series A1 -- -- [ICRA]AAA(SO) --
PTC Series A1(a) -- -- [ICRA]AA(SO) --
PTC Series A1(b) -- -- [ICRA]AA(SO) --
PTC Series A1 -- -- [ICRA]AA+(SO) --
PTC Series A1 -- -- [ICRA]AAA(SO) --
PTC Series A2 -- -- [ICRA]AAA(SO) --
PTC Series A1 -- -- [ICRA]AAA(SO) --
Long-term fund-based bank facilities -- -- [ICRA]AA-(Stable) --
Non-Convertible Debenture -- -- [ICRA]AA-(Stable) --

Our Analysts

Analyst 1

Rushabh Gohel

Analyst 2

Gaurav Mashalkar

Sector Head

Abhishek Dafria
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