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Rating Rationales

26 Jul 2024

National Projects Construction Corporation Limited: Moved to Non-Cooperating category; ratings downgraded based on best available information

National Projects Construction Corporation Limited: Moved to Non-Cooperating category; ratings downgraded based on best available information

26 Jul 2024

FP Crysta Energy Pvt. Ltd.: Rating upgraded to [ICRA]A- (Stable); outlook revised to Stable

FP Crysta Energy Pvt. Ltd.: Rating upgraded to [ICRA]A- (Stable); outlook revised to Stable

26 Jul 2024

FPEL Flash Energy Private Limited: Rating upgraded to [ICRA]A- (Stable); outlook revised to Stable

FPEL Flash Energy Private Limited: Rating upgraded to [ICRA]A- (Stable); outlook revised to Stable

26 Jul 2024

SSS Realty & Co: Rating assigned

SSS Realty & Co: Rating assigned

26 Jul 2024

Economic And Entrepreneurship Development Foundation: Rating downgraded to [ICRA]BBB; outlook revised to Stable from Negative

Economic And Entrepreneurship Development Foundation: Rating downgraded to [ICRA]BBB; outlook revised to Stable from Negative

26 Jul 2024

FP Eco Energy Pvt. Ltd.: Rating upgraded to [ICRA]A- (Stable); outlook revised to Stable

FP Eco Energy Pvt. Ltd.: Rating upgraded to [ICRA]A- (Stable); outlook revised to Stable

26 Jul 2024

RCCL Srikanche Expressway Private Limited: Rating reaffirmed; rating withdrawn for bank guarantee facility

RCCL Srikanche Expressway Private Limited: Rating reaffirmed; rating withdrawn for bank guarantee facility

26 Jul 2024

Iris Business Services Limited: Ratings upgraded to [ICRA]BBB- (Positive)/[ICRA]A3

Iris Business Services Limited: Ratings upgraded to [ICRA]BBB- (Positive)/[ICRA]A3

26 Jul 2024

InterGlobe Aviation Limited: Long-term rating upgraded to [ICRA]AA-(Stable); short-term rating reaffirmed

InterGlobe Aviation Limited: Long-term rating upgraded to [ICRA]AA-(Stable); short-term rating reaffirmed

26 Jul 2024

Mulkanoor Cooperative Rural Credit & Marketing Society Ltd. (erstwhile Mulkanoor Co-operative Rural Bank and Marketing Society Ltd.): Rating reaffirmed

Mulkanoor Cooperative Rural Credit & Marketing Society Ltd. (erstwhile Mulkanoor Co-operative Rural Bank and Marketing Society Ltd.): Rating reaffirmed


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Structured Finance Rating Rationales

26 Jul 2024

IIFL Home Finance Limited: Rating reaffirmed for PTCs issued under a mortgage loan securitisation transaction

IIFL Home Finance Limited: Rating reaffirmed for PTCs issued under a mortgage loan securitisation transaction

26 Jul 2024

Nido Home Finance Limited: Provisional [ICRA]AAA(SO) assigned to ABS backed by home loan receivables issued by HL Trust 26

Nido Home Finance Limited: Provisional [ICRA]AAA(SO) assigned to ABS backed by home loan receivables issued by HL Trust 26

26 Jul 2024

Lendingkart Finance Limited: Rating upgraded for PTCs issued under unsecured business loans securitisation transaction

Lendingkart Finance Limited: Rating upgraded for PTCs issued under unsecured business loans securitisation transaction

26 Jul 2024

Cholamandalam Investment and Finance Company Limited: Rating actions for securities issued under three vehicle loan securitisation transactions

Cholamandalam Investment and Finance Company Limited: Rating actions for securities issued under three vehicle loan securitisation transactions

25 Jul 2024

Ummeed Housing Finance Private Limited: Rating reaffirmed for SNs issued under home loan securitisation transaction

Ummeed Housing Finance Private Limited: Rating reaffirmed for SNs issued under home loan securitisation transaction

25 Jul 2024

Shriram Housing Finance Limited: Ratings reaffirmed for PTCs issued under a mortgage loan securitisation transaction

Shriram Housing Finance Limited: Ratings reaffirmed for PTCs issued under a mortgage loan securitisation transaction

25 Jul 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for PTCs backed by secured and unsecured loan receivables issued by Magnolia 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for PTCs backed by secured and unsecured loan receivables issued by Magnolia 2024

25 Jul 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for securities backed by secured loan receivables issued by RACHAEL TRUST 02 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for securities backed by secured loan receivables issued by RACHAEL TRUST 02 2024

25 Jul 2024

Sundaram Finance Limited: Rating confirmed as final for PTCs backed by pool of commercial vehicles, tractor and farm equipment loan receivables issued by Shri Trust BA 2024

Sundaram Finance Limited: Rating confirmed as final for PTCs backed by pool of commercial vehicles, tractor and farm equipment loan receivables issued by Shri Trust BA 2024

23 Jul 2024

Clix Capital Services Private Limited: Rating upgraded for PTCs issued under a personal loan securitisation transaction

Clix Capital Services Private Limited: Rating upgraded for PTCs issued under a personal loan securitisation transaction


Our Rating Approach & Methodologies

ICRA's Rating process starts when the issuer contacts
our business team to engage our services.

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