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Entity-Specific Rating Rationales

27 Mar 2026

Arohan Financial Services Limited: Provisional rating assigned to PTCs backed by microfinance loan receivables issued by Ascent Alpha February 2026

Arohan Financial Services Limited: Provisional rating assigned to PTCs backed by microfinance loan receivables issued by Ascent Alpha February 2026

03 Mar 2026

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

03 Feb 2026

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

13 Jan 2026

Arohan Financial Services Limited: Rating reaffirmed; rating withdrawn for matured instruments

Arohan Financial Services Limited: Rating reaffirmed; rating withdrawn for matured instruments

05 Jan 2026

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

08 Dec 2025

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

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

03 Dec 2025

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

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

02 Dec 2025

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event

12 Nov 2025

Arohan Financial Services Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Ascent Alpha June 2025

Arohan Financial Services Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Ascent Alpha June 2025

04 Nov 2025

Arohan Financial Services Limited: Update on material event

Arohan Financial Services Limited: Update on material event


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Entity-Specific Credit Perspective Reports

27 Mar 2026

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

13 Feb 2026

Arohan Financial Services Limited

Arohan Financial Services Limited (Non-SF)

08 Dec 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

03 Dec 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

01 Jul 2025

Arohan Financial Services Limited

Arohan Financial Services Limited (SF)

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)


Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTCs -- -- Provisional [ICRA]AA(SO) --
Subordinated bonds/debt -- -- [ICRA]A(Stable) --
Long-term – Fund-based – Others -- -- [ICRA]A(Stable) --
NCD -- -- [ICRA]A(Stable) --
NCD -- -- [ICRA]A(Stable) --
Series A1 PTC -- -- Provisional [ICRA]AA+(SO) --
Series A1 PTC -- -- Provisional [ICRA]AA+ (SO) --
Series A2 PTC -- -- Provisional [ICRA]AA (SO) --
Series A1 PTC -- -- [ICRA]AA+(SO) --
Series A2 PTC -- -- [ICRA]AA(SO) --

Our Analysts

Analyst 1

Shruti Jain2

Analyst 2

Sumit Pramanik

Sector Head

Manushree Saggar
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