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Entity-Specific Rating Rationales

31 Mar 2026

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AAA(SO) assigned to PTC Series A backed by vehicle loan receivables issued by PLATINUM TRUST MAR 2026 - TRANCHE II; Provisional [ICRA]A-(SO) assigned to second loss facility

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AAA(SO) assigned to PTC Series A backed by vehicle loan receivables issued by PLATINUM TRUST MAR 2026 - TRANCHE II; Provisional [ICRA]A-(SO) assigned to second loss facility

31 Mar 2026

Cholamandalam Investment and Finance Company LimitedProvisional [ICRA]AAA(SO) assigned to PTC Series A backed by vehicle loan receivables issued by PLATINUM TRUST MAR 2026 - TRANCHE I; Provisional [ICRA]A-(SO) assigned to second loss facility

Cholamandalam Investment and Finance Company LimitedProvisional [ICRA]AAA(SO) assigned to PTC Series A backed by vehicle loan receivables issued by PLATINUM TRUST MAR 2026 - TRANCHE I; Provisional [ICRA]A-(SO) assigned to second loss facility

27 Mar 2026

Cholamandalam Investment and Finance Company Limited : Ratings reaffirmed for PTCs issued under six vehicle loan securitisation transactions

Cholamandalam Investment and Finance Company Limited : Ratings reaffirmed for PTCs issued under six vehicle loan securitisation transactions

25 Mar 2026

Cholamandalam Investment and Finance Company Limited: Rating reaffirmed for PTCs issued under a vehicle loan securitisation transaction

Cholamandalam Investment and Finance Company Limited: Rating reaffirmed for PTCs issued under a vehicle loan securitisation transaction

23 Mar 2026

Cholamandalam Investment and Finance Company Limited: Ratings withdrawn for PTCs issued under vehicle loan receivables transactions

Cholamandalam Investment and Finance Company Limited: Ratings withdrawn for PTCs issued under vehicle loan receivables transactions

02 Mar 2026

Cholamandalam Investment and Finance Company Limited: Ratings reaffirmed; rated amount enhanced

Cholamandalam Investment and Finance Company Limited: Ratings reaffirmed; rated amount enhanced

24 Feb 2026

Cholamandalam Investment and Finance Company Limited: Ratings reaffirmed for PTCs issued under two vehicle loan securitisation transactions

Cholamandalam Investment and Finance Company Limited: Ratings reaffirmed for PTCs issued under two vehicle loan securitisation transactions

11 Feb 2026

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AAA(SO) assigned to PTCs backed by vehicle loan receivables issued by PLATINUM TRUST FEB 2026 - TRANCHE I

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AAA(SO) assigned to PTCs backed by vehicle loan receivables issued by PLATINUM TRUST FEB 2026 - TRANCHE I

02 Feb 2026

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AAA(SO) assigned to Series A1(a) PTCs and Series A1(b) PTCs backed by vehicle loan receivables issued by Platinum Trust Dec 2025 – Tranche III; Provisional [ICRA]A-(SO) assigned to second loss facility

Cholamandalam Investment and Finance Company Limited: Provisional [ICRA]AAA(SO) assigned to Series A1(a) PTCs and Series A1(b) PTCs backed by vehicle loan receivables issued by Platinum Trust Dec 2025 – Tranche III; Provisional [ICRA]A-(SO) assigned to second loss facility

30 Jan 2026

Cholamandalam Investment and Finance Company Limited: Ratings confirmed as final for PTCs backed by a pool of vehicle loan receivables

Cholamandalam Investment and Finance Company Limited: Ratings confirmed as final for PTCs backed by a pool of vehicle loan receivables


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Entity-Specific Credit Perspective Reports

08 Apr 2026

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

20 Feb 2026

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

06 Feb 2026

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

12 Jan 2026

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

08 Jan 2026

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

08 Dec 2025

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

11 Nov 2025

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (Non-SF)

13 Oct 2025

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

23 Sep 2025

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)

11 Aug 2025

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited (SF)


Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Second Loss Facility -- -- Provisional [ICRA]A-(SO) --
PTC Series A -- -- Provisional [ICRA]AAA(SO) --
Second Loss Facility -- -- Provisional [ICRA]A-(SO) --
PTC Series A -- -- Provisional [ICRA]AAA(SO) --
PTC Series A -- -- [ICRA]AAA(SO) --
PTC Series A -- -- [ICRA]AAA(SO) --
PTC Series A -- -- [ICRA]AA+(SO) --
PTC Series A -- -- [ICRA]AAA(SO) --
Second Loss Facility -- -- [ICRA]BBB+(SO) --
Second Loss Facility -- -- [ICRA]BBB+(SO) --

Our Analysts

Analyst 1

Vishal Oza 2

Analyst 2

Sumit Pramanik

Sector Head

Manushree Saggar
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