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Entity-Specific Rating Rationales

18 Nov 2025

Berar Finance Limited: Rating confirmed as final for PTCs backed by two-wheeler loan receivables issued by Akaay 08 2025

Berar Finance Limited: Rating confirmed as final for PTCs backed by two-wheeler loan receivables issued by Akaay 08 2025

14 Oct 2025

Berar Finance Limited: Rating withdrawn

Berar Finance Limited: Rating withdrawn

01 Oct 2025

Berar Finance Limited: Rating reaffirmed for PTCs issued under two-wheeler loan securitisation transaction

Berar Finance Limited: Rating reaffirmed for PTCs issued under two-wheeler loan securitisation transaction

12 Sep 2025

Berar Finance Limited: Rating confirmed as final for PTCs issued under a two-wheeler loan receivables securitisation transaction

Berar Finance Limited: Rating confirmed as final for PTCs issued under a two-wheeler loan receivables securitisation transaction

02 Sep 2025

Berar Finance Limited: Rating upgraded for PTCs issued under two-wheeler loan securitisation transaction

Berar Finance Limited: Rating upgraded for PTCs issued under two-wheeler loan securitisation transaction

02 Sep 2025

Berar Finance Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC backed by two-wheeler loan receivables issued by DRIFT 08 2025

Berar Finance Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC backed by two-wheeler loan receivables issued by DRIFT 08 2025

21 Aug 2025

Berar Finance Limited: Rating confirmed as final for PTCs issued under a two-wheeler loan receivables securitisation transaction

Berar Finance Limited: Rating confirmed as final for PTCs issued under a two-wheeler loan receivables securitisation transaction

21 Aug 2025

Berar Finance Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTCs and Provisional [ICRA]A-(SO) assigned to Equity Tranche PTCs backed by two-wheeler loan receivables issued by Akaay 08 2025

Berar Finance Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTCs and Provisional [ICRA]A-(SO) assigned to Equity Tranche PTCs backed by two-wheeler loan receivables issued by Akaay 08 2025

23 Jun 2025

Berar Finance Limited: Provisional [ICRA]BBB+(SO) assigned to PTCs backed by two-wheeler loan receivables issued by Norton 06 2025

Berar Finance Limited: Provisional [ICRA]BBB+(SO) assigned to PTCs backed by two-wheeler loan receivables issued by Norton 06 2025

06 May 2025

Berar Finance Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC backed by two-wheeler loan receivables issued by SENTINEL 2025

Berar Finance Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC backed by two-wheeler loan receivables issued by SENTINEL 2025


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Entity-Specific Credit Perspective Reports

02 Sep 2025

Berar Finance Limited

Berar Finance Limited (SF)

26 Aug 2025

Berar Finance Limited

Berar Finance Limited (SF)

24 Jun 2025

Berar Finance Limited

Berar Finance Limited (SF)

06 May 2025

Berar Finance Limited

Berar Finance Limited (SF)

27 Dec 2024

Berar Finance Limited

Berar Finance Limited (Non-SF)

19 Dec 2024

Berar Finance Limited

Berar Finance Limited (SF)

08 Oct 2024

Berar Finance Limited

Berar Finance Limited (SF)

06 Aug 2024

Berar Finance Limited

Berar Finance Limited (SF)

06 Oct 2023

Berar Finance Limited

Berar Finance Limited (SF)

19 May 2023

Berar Finance Limited

Berar Finance Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTCs -- -- [ICRA]A+(SO) --
Equity Tranche PTCs -- -- [ICRA]A-(SO) --
Non-Convertible Debentures -- -- Withdrawn --
Series A1 PTC -- -- [ICRA]A-(SO) --
Series A1 PTC -- -- [ICRA]BBB+(SO) --
Series A1 PTC -- -- Provisional [ICRA]A+ (SO) --
Series A1 PTC -- -- [ICRA]A+(SO) --
Series A1 PTC -- -- [ICRA]A-(SO) --
Series A1 PTC -- -- [ICRA]A-(SO) --
Series A1 PTC -- -- [ICRA]A+(SO) --

Our Analysts

Analyst 1

Vishal Oza

Analyst 2

Anubha Rustagi

Sector Head

Manushree Sagar
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