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Special Comments

Date	Reports	Category	Price
18 Nov 2025	SGS cut-off dips by 12 bps to a 15 week low of 7.13% amid continued lower-than-indicated issuance	Thematic Report
11 Nov 2025	SGS cut-off dips by 12 bps to 7.24% amid decline in tenor and continued lower-than-indicated issuance	Thematic Report
04 Nov 2025	SGS cut-off rose by 3 bps to 7.36% amid increase in share of longer-tenor issuances	Thematic Report
03 Nov 2025	Investment activity eased in Q2 FY2026; execution may improve in H2, while post-festive demand, GoI capex and trade outcomes are key monitorables	Thematic Report
28 Oct 2025	SGS cut-off rises by 11 bps to 7.33% despite lower-than-indicated issuance	Thematic Report
27 Oct 2025	States’ fiscal deficit projected at 3.3% of GSDP in FY2026, mildly exceeding budgeted level	Annual Update	--
14 Oct 2025	SGS issuance trailed the indicated amount by a sharp 56% in the second weekly auction of October 2025	Thematic Report
07 Oct 2025	SGS cut-off drops by 26 bps to 7.18% amid dip in yields and increase in shorter tenor issuances	Thematic Report
30 Sep 2025	SGS cut-off rises by 10 bps to 7.44%; spread between 10-year SGS and G-sec yield narrows to 69bps	Thematic Report
25 Sep 2025	Phased CRR cut, VRRs to support liquidity ahead of seasonal currency leakage; G-sec yield curve to remain steep in near term	Thematic Report
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Credit Perspective Reports

Credit Perspective Reports (CPRs) offer detailed rating analyses of over 1,500 investment-grade entities, covering both listed and unlisted companies. These reports provide in-depth insights into key rating drivers, making them valuable for benchmarking, understanding credit trends, and making informed investment decisions.

What's latest in CPR

Godrej Industries Limited
18 Nov 2025
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18 Nov 2025
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18 Nov 2025
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Rating Rationales

Name	Email	Phone
19 Nov 2025	Criss Financial Limited (erstwhile Criss Financial Holdings Limited): Provisional rating assigned to PTC backed by loan against property (LAP) receivables issued by ARVIND 10 2025
18 Nov 2025	Stelmec Limited: [ICRA]A-(Stable)/[ICRA]A2+; assigned
18 Nov 2025	Keertana Finserv Limited: Rating withdrawn for Series A1 SNs backed by a pool of micro enterprise loan receivables
18 Nov 2025	Sunstrength Renewables Private Limited: Ratings Reaffirmed
18 Nov 2025	Sorion Solar Private Limited: Ratings Reaffirmed
18 Nov 2025	Zerach Renewables Energy Private Limited: Ratings Reaffirmed
18 Nov 2025	WOLP II Tauru Private Limited: [ICRA]BBB(Stable)/[ICRA]A3+ assigned
18 Nov 2025	T and T Infra Limited: Ratings reaffirmed
18 Nov 2025	Berar Finance Limited: Rating confirmed as final for PTCs backed by two-wheeler loan receivables issued by Akaay 08 2025
18 Nov 2025	Pal Fashions Private Limited: Ratings downgraded to [ICRA]BBB-(Stable)/[ICRA]A3