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Entity-Specific Rating Rationales

31 Mar 2026

Indian Railway Finance Corporation Ltd: Ratings reaffirmed; rated amount enhanced

Indian Railway Finance Corporation Ltd: Ratings reaffirmed; rated amount enhanced

15 May 2025

Indian Railway Finance Corporation Ltd: Ratings reaffirmed; rated amount enhanced

Indian Railway Finance Corporation Ltd: Ratings reaffirmed; rated amount enhanced

07 Jun 2024

Indian Railway Finance Corporation Ltd: [ICRA]AAA (Stable) assigned; earlier ratings reaffirmed

Indian Railway Finance Corporation Ltd: [ICRA]AAA (Stable) assigned; earlier ratings reaffirmed

13 May 2024

Indian Railway Finance Corporation Ltd: rating withdrawn for matured instruments

Indian Railway Finance Corporation Ltd: rating withdrawn for matured instruments

20 Jun 2023

Indian Railway Finance Corporation Ltd: Ratings reaffirmed; rated amount enhanced

Indian Railway Finance Corporation Ltd: Ratings reaffirmed; rated amount enhanced

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Entity-Specific Credit Perspective Reports

06 May 2026

Indian Railway Finance Corporation Ltd

Indian Railway Finance Corporation Ltd (Non-SF)

12 Jun 2025

Indian Railway Finance Corporation Ltd

Indian Railway Finance Corporation Ltd (Non-SF)

28 Jun 2024

Indian Railway Finance Corporation Ltd

Indian Railway Finance Corporation Ltd (Non-SF)

19 Jul 2023

Indian Railway Finance Corporation Ltd

Indian Railway Finance Corporation Ltd (Non-SF)

02 Jun 2023

Indian Railway Finance Corporation Ltd

Indian Railway Finance Corporation Ltd (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme [ICRA]A1+ -- -- --
Borrowing Programme -- -- [ICRA]AAA(Stable) --

Our Analysts

Analyst 1

Mishi Yadav

Analyst 2

Sandeep Sharma

Sector Head

Karthik Srinivasan
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