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Entity-Specific Rating Rationales

18 Mar 2026

Toyota Financial Services India Limited: Ratings reaffirmed and rated amount enhanced; rating reaffirmed and withdrawn for matured instruments

Toyota Financial Services India Limited: Ratings reaffirmed and rated amount enhanced; rating reaffirmed and withdrawn for matured instruments

03 Oct 2025

Toyota Financial Services India Limited: [ICRA]AAA (Stable) assigned to NCDs; ratings reaffirmed

Toyota Financial Services India Limited: [ICRA]AAA (Stable) assigned to NCDs; ratings reaffirmed

07 Apr 2025

Toyota Financial Services India Limited: [ICRA]AAA (Stable) assigned to NCDs; ratings reaffirmed and rated amount enhanced

Toyota Financial Services India Limited: [ICRA]AAA (Stable) assigned to NCDs; ratings reaffirmed and rated amount enhanced

19 Dec 2024

Toyota Financial Services India Limited: Ratings reaffirmed; rated amount enhanced

Toyota Financial Services India Limited: Ratings reaffirmed; rated amount enhanced

25 Jun 2024

Toyota Financial Services India Limited: Ratings reaffirmed; rated amount enhanced

Toyota Financial Services India Limited: Ratings reaffirmed; rated amount enhanced

27 Dec 2023

Toyota Financial Services India Limited: Ratings reaffirmed; rated amount enhanced

Toyota Financial Services India Limited: Ratings reaffirmed; rated amount enhanced

01 Aug 2023

Toyota Financial Services India Limited: Ratings reaffirmed; Rated amount enhanced

Toyota Financial Services India Limited: Ratings reaffirmed; Rated amount enhanced

11 May 2023

Toyota Financial Services India Limited: [ICRA]AAA(Stable) assigned for NCD Programme; Ratings reaffirmed

Toyota Financial Services India Limited: [ICRA]AAA(Stable) assigned for NCD Programme; Ratings reaffirmed

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Entity-Specific Credit Perspective Reports

28 Nov 2025

Toyota Financial Services India Limited

Toyota Financial Services India Limited (Non-SF)

30 Jul 2024

Toyota Financial Services India Limited

Toyota Financial Services India Limited (Non-SF)

08 Feb 2024

Toyota Financial Services India Limited

Toyota Financial Services India Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Commercial Paper [ICRA]A1+ -- -- --
NCD -- -- [ICRA]AAA(Stable) --
NCD -- -- [ICRA]AAA(Stable) --
Long-term/Short-term – Fund-based – Others [ICRA]A1+ -- [ICRA]AAA(Stable) --

Our Analysts

Analyst 1

Vansh Madaan

Analyst 2

Srinivasan Rangaswamy

Sector Head

Karthik Srinivasan
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