ICRA An Affiliate of Moody's

Entity-Specific Rating Rationales

01 Dec 2025

Ascend Bizcap Private Limited: Provisional ratings assigned to PTCs backed by electric three-wheeler loan receivables issued by Voltorb November 2025

27 Nov 2025

Ascend Bizcap Private Limited: Rating confirmed as final for PTCs backed by electric three-wheeler loan receivables issued by Magnatron November 2025

17 Nov 2025

Ascend Bizcap Private Limited: Provisional ratings assigned to PTCs backed by electric three-wheeler loan receivables issued by Magnatron November 2025

05 Sep 2025

Ascend Bizcap Private Limited: Ratings confirmed as final for PTCs backed by electric three-wheeler loan receivables issued by Magnetron Aug 2025

01 Sep 2025

Ascend Bizcap Private Limited: Provisional ratings assigned to PTCs backed by electric three-wheeler loan receivables issued by Magnetron Aug 2025

01 Aug 2025

Ascend Bizcap Private Limited: [ICRA]BBB- (Stable) assigned

Entity-Specific Credit Perspective Reports

03 Dec 2025

Ascend Bizcap Private Limited

Ascend Bizcap Private Limited (SF)

18 Nov 2025

Ascend Bizcap Private Limited

Ascend Bizcap Private Limited (SF)

01 Sep 2025

Ascend Bizcap Private Limited

Ascend Bizcap Private Limited (SF)

21 Aug 2025

Ascend Bizcap Private Limited

Ascend Bizcap Private Limited (Non-SF)

Ratings

Description	Short Term	Medium Term	Long Term	Issuer
Series A1 PTC	--	--	Provisional [ICRA]A(SO)	--
Series A2 PTC	--	--	Provisional [ICRA]A-(SO)	--
Series A1 PTCs	--	--	[ICRA]A-(SO)	--
Series A1(a) PTC	--	--	[ICRA]A-(SO)	--
Series A1(b) PTC	--	--	[ICRA]A-(SO)	--
Series A2 PTC	--	--	[ICRA]BBB+(SO)	--
Long-term fund-based/non-fund based bank lines	--	--	[ICRA]BBB-(Stable)	--

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