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Entity-Specific Rating Rationales

20 Feb 2026

Kaabil Finance Private Limited ; Rating confirmed as final for PTCs backed by secured business loan receivables issued by LoanX Kalmia Feb 2026

Kaabil Finance Private Limited ; Rating confirmed as final for PTCs backed by secured business loan receivables issued by LoanX Kalmia Feb 2026

11 Feb 2026

Kaabil Finance Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTCs backed by a pool of secured business loan receivables

Kaabil Finance Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTCs backed by a pool of secured business loan receivables

26 Nov 2025

Kaabil Finance Private Limited: [ICRA]BBB- (Stable) Reaffirmed and assigned for Rs. 31- crore NCD programme

Kaabil Finance Private Limited: [ICRA]BBB- (Stable) Reaffirmed and assigned for Rs. 31- crore NCD programme

14 Oct 2025

Kaabil Finance Private Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Spectrum 06 2025

Kaabil Finance Private Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Spectrum 06 2025

21 Jul 2025

Kaabil Finance Private Limited: [ICRA]BBB- (Stable) assigned

Kaabil Finance Private Limited: [ICRA]BBB- (Stable) assigned

07 Jul 2025

Kaabil Finance Private Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Indigo 042

Kaabil Finance Private Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Indigo 042

02 Jul 2025

Kaabil Finance Private Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTCs backed by a pool of secured business loan receivables

Kaabil Finance Private Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTCs backed by a pool of secured business loan receivables

02 Jul 2025

Kaabil Finance Private Limited: Provisional [ICRA]A(SO) assigned to Series A PTCs backed by a pool of secured business loan receivables

Kaabil Finance Private Limited: Provisional [ICRA]A(SO) assigned to Series A PTCs backed by a pool of secured business loan receivables

27 Jun 2025

Kaabil Finance Private Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by LoanX Kalmia Apr 2025

Kaabil Finance Private Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by LoanX Kalmia Apr 2025

09 May 2025

Kaabil Finance Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTCs backed by a pool of secured business loan receivables

Kaabil Finance Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTCs backed by a pool of secured business loan receivables

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Entity-Specific Credit Perspective Reports

12 Feb 2026

Kaabil Finance Private Limited

Kaabil Finance Private Limited (SF)

19 Aug 2025

Kaabil Finance Private Limited

Kaabil Finance Private Limited (Non-SF)

07 Jul 2025

Kaabil Finance Private Limited

Kaabil Finance Private Limited (SF)

07 Jul 2025

Kaabil Finance Private Limited

Kaabil Finance Private Limited (SF)

15 May 2025

Kaabil Finance Private Limited

Kaabil Finance Private Limited (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTCs -- -- [ICRA]A(SO) --
NCD Programme -- -- [ICRA]BBB-(Stable) --
Series A1 PTCs -- -- [ICRA]A-(SO) --
Long Term Fund based -- -- [ICRA]BBB-(Stable) --
Series A PTCs -- -- [ICRA]A(SO) --
Series A1 PTCs -- -- [ICRA]A(SO) --

Our Analysts

Analyst 1

Samratsingh Hazari

Analyst 2

Sumit Pramanik

Sector Head

Manushree Sagar
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