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Entity-Specific Rating Rationales

28 Apr 2025

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent 25-26 PTC Series A1

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent 25-26 PTC Series A1

02 Apr 2025

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

04 Mar 2025

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

04 Feb 2025

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

14 Jan 2025

Arohan Financial Services Limited: Rating reaffirmed; removed from Rating Watch and Stable outlook assigned

Arohan Financial Services Limited: Rating reaffirmed; removed from Rating Watch and Stable outlook assigned

11 Nov 2024

Arohan Financial Services Limited: Rating withdrawn for Rs. 180-crore NCD programme

Arohan Financial Services Limited: Rating withdrawn for Rs. 180-crore NCD programme

25 Oct 2024

Arohan Financial Services Limited: Rating placed on Watch with Negative implications

Arohan Financial Services Limited: Rating placed on Watch with Negative implications

05 Jul 2024

Arohan Financial Services Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Aavishkaar February 2024 Trust I

Arohan Financial Services Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Aavishkaar February 2024 Trust I

14 Jun 2024

Arohan Financial Services Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

Arohan Financial Services Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

20 May 2024

Arohan Financial Services Limited: Rating reaffirmed and rated amount enhanced; rating withdrawn for Rs. 4.53-crore bank facilities programme

Arohan Financial Services Limited: Rating reaffirmed and rated amount enhanced; rating withdrawn for Rs. 4.53-crore bank facilities programme


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Entity-Specific Credit Perspective Reports

28 Apr 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

05 Feb 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (Non-SF)

07 Mar 2024

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

05 Feb 2024

Arohan Financial Services Limited

Arohan Financial Services Limited (Non-SF)

06 Sep 2023

Arohan Financial Services Limited

Arohan Financial Services Limited (Non-SF)

11 Jan 2023

Arohan Financial Services Limited

Arohan Financial Services Limited (Non-SF)

17 Aug 2022

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTC -- -- Provisional [ICRA]A+(SO) --
Equity tranche -- -- Provisional [ICRA]A-(SO) --
Non-Convertible Debenture -- -- [ICRA]A(Stable) --
Long-term fund-based bank facilities -- -- [ICRA]A(Stable) --
Subordinated Debt -- -- [ICRA]A(Stable) --
Series A1 PTC -- -- [ICRA]A+(SO) --
Series A1 PTC -- -- Withdrawn --
Series A2 PTC -- -- Withdrawn --
Fund based Term Loan -- -- Withdrawn --
PTC Series A -- -- Withdrawn --

Our Analysts

Analyst 1

Shruti Jain

Analyst 2

Sumit Pramanik

Sector Head

Manushree Sagar
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