Structured Finance

ICRA's Structured Finance Report offers a pool-wise summary of the performance of all ICRA-rated ABS and MBS transactions over a specific period. Investors rely on these reports to assess the quality of a financial institution's asset pool, aiding them in making informed investment decisions. Additionally, the annual Market Update Report covers the securitisation volumes, their distribution across various classes, types of investors active in this space, split of securitisation market, trends in PTC yields and details on rating movement of ICRA rated transactions.

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Special Comments

Date	Sector	Reports	Category	Price
04 Jun 2026	Market Update	Securitisation volume scales new peak; surpasses Rs. 2.5 lakh crore in FY2026	Annual Update	--
22 Apr 2026	Market Update	Securitisation scales new peak of Rs. 2.5 trillion in FY2026, projected to rise to Rs. 2.6-2.7 lakh crore in FY2027	Thematic Report
28 Jan 2026	Market Update	Securitisation by AHFCs to remain resilient, driven by expanding business volumes and strong asset performance	Thematic Report
23 Jan 2026	Market Update	9M FY2026: Securitisation volumes continue to grow; NBFCs expected to remain key originators	Thematic Report
31 Dec 2025	Mortgage-Backed Security	Report on MBS Pool Performance till September 2025	Half-yearly Update	--
31 Dec 2025	Asset-Backed Security	Report on Performance until September 2025	Half-yearly Update	--
27 Oct 2025	Market Update	H1 FY2026: Securitisation volumes continue to grow; NBFCs expected to remain key originators	Thematic Report
17 Sep 2025	Market Update	Tighter pool selection and structural enhancements support MFI pool performance amidst challenging environment	Thematic Report
17 Jul 2025	Market Update	Q1 FY2026: Securitisation volumes rise led by participation by NBFCs	Thematic Report
30 Jun 2025	Asset-Backed Security	Report on Performance until March 2025	Half-yearly Update	--
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Credit Perspective Reports

ICRA's 'Credit Perspectives' provide detailed analysis on ratings assigned. These reports broadly cover the following areas: Key rating considerations..

What's latest in CPR

BAM DLR MUMBAI PRIVATE LIMITED
19 Jun 2026
Delhi International Airport Limited
18 Jun 2026
DMI Finance Private Limited
18 Jun 2026
InCred Financial Services Limited
18 Jun 2026
GreenCell Surat Private Limited
18 Jun 2026

Rating Rationales

Date	Category	Report
19 Jun 2026	Structured Finance Rating	Northern Arc Capital Limited: Ratings confirmed as final for PTCs backed by a pool of consumer finance loan receivables
19 Jun 2026	Corporate Debt Rating	Sree Akkamamba Textiles Limited: Ratings withdrawn
18 Jun 2026	Corporate Debt Rating	Rajratan Global Wire Limited: Ratings reaffirmed and assigned for enhanced amount
18 Jun 2026	Corporate Debt Rating	Manaksia Steels Limited: [ICRA]A (Stable)/ [ICRA]A1; assigned
18 Jun 2026	Corporate Debt Rating	Vaibhav Edibles Private Limited: Ratings upgraded
18 Jun 2026	Financial Sector Rating	Bajaj Finance Ltd.: Ratings reaffirmed; rating assigned for bank facilities programme
18 Jun 2026	Financial Sector Rating	Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new and used passenger vehicle loan receivables issued by PHARAOH Feb 2026 Series
18 Jun 2026	Structured Finance Rating	Muthoot Capital Services Limited: Ratings confirmed as final for instruments backed by two-wheeler loan receivables issued by WHITFORD 03 2026
18 Jun 2026	Structured Finance Rating	DMI Finance Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by PLUM 27-2, backed by a pool of personal loan receivables
18 Jun 2026	Structured Finance Rating	Five-Star Business Finance Limited: Rating upgraded for PTCs issued under a small business loan securitisation transaction