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Entity-Specific Rating Rationales

04 Jun 2025

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent Gamma May 2025

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent Gamma May 2025

04 Jun 2025

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent Alpha May 2025

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent Alpha May 2025

03 Jun 2025

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

03 Jun 2025

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent Beta May 2025

Arohan Financial Services Limited: Provisional ratings assigned to PTCs backed by microfinance loan receivables issued by Ascent Beta May 2025

02 May 2025

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

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


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Entity-Specific Credit Perspective Reports

10 Jun 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

10 Jun 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

05 Jun 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

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) --
Series A1 PTC -- -- Provisional [ICRA]AA-(SO) --
Series A2 PTC -- -- Provisional [ICRA]A+(SO) --
Equity tranche -- -- Provisional [ICRA]A-(SO) --
Series A1 PTC -- -- Provisional [ICRA]A+ (SO) --
Equity tranche -- -- Provisional [ICRA]A (SO) --
Series A1 PTC -- -- Provisional [ICRA]A+ (SO) --
Equity tranche -- -- Provisional [ICRA]A- (SO) --
Non-Convertible Debenture -- -- [ICRA]A(Stable) --

Our Analysts

Analyst 1

Shruti Jain

Analyst 2

Sumit Pramanik

Sector Head

Manushree Sagar
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