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Entity-Specific Rating Rationales

24 Feb 2026

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA+(SO) assigned to Series A1 issued by Ferrero 02 2026, backed by a pool of secured small business loan receivables

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA+(SO) assigned to Series A1 issued by Ferrero 02 2026, backed by a pool of secured small business loan receivables

07 Nov 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by Subra 07 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by Subra 07 2025

29 Sep 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): [ICRA]A+ (Stable) assigned to NCD programme; ratings reaffirmed

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): [ICRA]A+ (Stable) assigned to NCD programme; ratings reaffirmed

16 Jul 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA(SO) assigned to Series A1 PTCs issued by Subra 07 2025, backed by a pool of unsecured business loan receivables issued by Subra 07 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA(SO) assigned to Series A1 PTCs issued by Subra 07 2025, backed by a pool of unsecured business loan receivables issued by Subra 07 2025

14 Jul 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating confirmed as final for PTCs receivables issued by Hershey 03 2025, backed by secured business loan

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating confirmed as final for PTCs receivables issued by Hershey 03 2025, backed by secured business loan

11 Jul 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by Lindt 03 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by Lindt 03 2025

08 Apr 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA+(SO) assigned to Series A1 PTCs issued by Hershey 03 2025, backed by a pool of secured business loans

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA+(SO) assigned to Series A1 PTCs issued by Hershey 03 2025, backed by a pool of secured business loans

28 Mar 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating assigned

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Rating assigned

28 Mar 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA(SO) assigned to Series A1 PTCs issued by Lindt 03 2025, backed by a pool of unsecured business loans

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Provisional [ICRA]AA(SO) assigned to Series A1 PTCs issued by Lindt 03 2025, backed by a pool of unsecured business loans

27 Mar 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Ratings reaffirmed; rated amount enhanced

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited): Ratings reaffirmed; rated amount enhanced


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Entity-Specific Credit Perspective Reports

02 Mar 2026

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited)

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited) (SF)

18 Jul 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited)

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited) (SF)

22 Apr 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited)

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited) (SF)

21 Apr 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited)

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited) (SF)

14 Apr 2025

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited)

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited) (Non-SF)

22 May 2023

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited)

Oxyzo Financial Services Limited (erstwhile Oxyzo Financial Services Private Limited) (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 -- -- Provisional [ICRA]AA+(SO) --
Series A1 PTCs -- -- [ICRA]AA(SO) --
Non-Convertible Debentures -- -- [ICRA]A+(Stable) --
Series A1 PTCs -- -- [ICRA]AA+(SO) --
Series A1 PTCs -- -- [ICRA]AA(SO) --
Commercial Paper [ICRA]A1+ -- -- --
Market Linked Debenture -- -- [ICRA]A+ (Stable)PP-MLD --
Long-term / Short-term: Fund based [ICRA]A1+ -- [ICRA]A+(Stable) --
Long term borrowing programme -- -- [ICRA]A+(Stable) --
Issuer rating -- -- [ICRA]A+(Stable) --

Our Analysts

Analyst 1

Sheetal Nayak

Analyst 2

Himanshi Doshi

Sector Head

Manushree Saggar
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