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Entity-Specific Rating Rationales

30 May 2025

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) : Ratings confirmed as final for PTCs backed by unsecured business loan receivables issued by SBL Sarika 0225

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) : Ratings confirmed as final for PTCs backed by unsecured business loan receivables issued by SBL Sarika 0225

28 May 2025

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.): Rating upgraded for PTCs issued under unsecured business loan securitisation transaction

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.): Rating upgraded for PTCs issued under unsecured business loan securitisation transaction

19 Mar 2025

Aye Finance Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 and Provisional [ICRA]AA(SO) assigned to Equity Tranche PTCs issued by SBL Sarika 0225, backed by a pool of unsecured business loans

Aye Finance Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 and Provisional [ICRA]AA(SO) assigned to Equity Tranche PTCs issued by SBL Sarika 0225, backed by a pool of unsecured business loans

10 Mar 2025

Aye Finance Limited: Ratings confirmed as final for PTCs backed by unsecured business loan receivables issued by AJANTA 02 TRUST 2024

Aye Finance Limited: Ratings confirmed as final for PTCs backed by unsecured business loan receivables issued by AJANTA 02 TRUST 2024

31 Dec 2024

Aye Finance Limited: Provisional [ICRA]AA(SO) assigned to PTC Series A1 and Provisional [ICRA]A+(SO) assigned to Series B PTCs issued by AJANTA 02 TRUST 2024, backed by a pool of unsecured business loans

Aye Finance Limited: Provisional [ICRA]AA(SO) assigned to PTC Series A1 and Provisional [ICRA]A+(SO) assigned to Series B PTCs issued by AJANTA 02 TRUST 2024, backed by a pool of unsecured business loans

06 Dec 2024

Aye Finance (P) Ltd.: Rating reaffirmed and rated amount enhanced

Aye Finance (P) Ltd.: Rating reaffirmed and rated amount enhanced

04 Oct 2024

Aye Finance (P) Ltd.: [ICRA]A (Stable) assigned

Aye Finance (P) Ltd.: [ICRA]A (Stable) assigned

13 Sep 2024

Aye Finance (P) Ltd.: Ratings confirmed as final for PTCs backed by unsecured business loan receivables issued by AJANTA 01 TRUST 2024

Aye Finance (P) Ltd.: Ratings confirmed as final for PTCs backed by unsecured business loan receivables issued by AJANTA 01 TRUST 2024

04 Jul 2024

Aye Finance (P) Ltd.: Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by SBL Thulasi 05 2024

Aye Finance (P) Ltd.: Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by SBL Thulasi 05 2024

04 Jul 2024

Aye Finance (P) Ltd.: Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by SBL Mrinalini 0424

Aye Finance (P) Ltd.: Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by SBL Mrinalini 0424


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Entity-Specific Credit Perspective Reports

01 Apr 2025

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.)

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) (SF)

02 Jan 2025

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.)

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) (SF)

05 Nov 2024

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.)

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) (Non-SF)

02 Jul 2024

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.)

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) (SF)

04 Jun 2024

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.)

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) (SF)

02 May 2024

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.)

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) (SF)

01 Apr 2024

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.)

Aye Finance Limited (erstwhile Aye Finance (P) Ltd.) (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
PTC Series A1 -- -- [ICRA]AA+(SO) --
Equity Tranche PTCs -- -- [ICRA]AA(SO) --
PTC Series A -- -- [ICRA]AA+(SO) --
PTC Series A1 -- -- [ICRA]AA(SO) --
Series B PTCs -- -- [ICRA]A+(SO) --
Long term Bank facilities – Unallocated -- -- [ICRA]A(Stable) --
PTC Series A1 -- -- [ICRA]AA(SO) --
Series B PTCs -- -- [ICRA]A+(SO) --
PTC Series A1 -- -- [ICRA]AA(SO) --
PTC Series A -- -- [ICRA]AA(SO) --

Our Analysts

Analyst 1

Ritu Rita

Analyst 2

Gaurav Mashalkar

Sector Head

Abhishek Dafria
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