ICRA Ratings News and Credit Updates
ICRA assigns B+ (Stable) rating to Perfect Allied Safety and Security Services
Amid competition in India’s security services sector, Perfect Allied Safety and Security Services Private Limited has received a new credit rating. The assessment reflects the company’s ...
Aparna Ceramics rated A- (Stable) by ICRA, A2+ for short-term obligations
Aparna Ceramics Private Limited, which has an established presence in India's ceramics industry, has been assigned an A- (Stable) rating by ICRA for its long-term credit facilities and an A2+ ...
IL&FS's rating remains in the non-cooperative category
Surveillance of IL&FS's debt instruments remains stalled due to the company's continued non-cooperation. This limits clarity on the group's financial position and operating performance for ...
Vedika Credit Capital’s Microfinance PTC Rating Reaffirmed as ICRA Cites Operational Stability
The rating of Vedika Credit Capital Ltd’s pass-through certificates, issued under a microfinance loan securitization transaction, has been reaffirmed. The assessment is based on repayments by ...
Risk of a widening fiscal deficit in India as ICRA warns of a possible miss against the FY2027 target
The Indian government's fiscal deficit widened to 7.1 lakh crore rupees in the first half of FY2027, up from 5.7 lakh crore rupees in the same period a year earlier. With high energy prices, a ...
IL&FS Financial Services remains in Issuer Not Cooperating category, raising concerns about rating transparency
According to a recent report, IL&FS Financial Services Limited remains in the Issuer Not Cooperating category for credit assessment monitoring. This status indicates that the company has not ...
ICRA Reaffirms Rating on Spandana Sphoorty’s Microfinance-Backed PTCs
The rating confirmation for structured debt instruments backed by microfinance loan receivables reflects confidence in the asset quality and operational stability of Spandana Sphoorty Financial ...
Final rating on Pahal Financial Services’ microfinance PTCs reaffirmed
The rating of Pahal Financial Services Pvt. Ltd.’s pass-through certificates backed by microfinance loan receivables has been reaffirmed. This reaffirmation is based on an assessment of the ...
ICRA sees September industrial output growth moderating, expects Q2 GDP to exceed 7%
Industrial activity in India remained strong in September 2026, although its year-on-year pace slowed somewhat compared with August. IIP growth accelerated to 7.3% in Q2 FY2027, also pointing to ...
Tejas Networks’ Rating Reaffirmed, ICRA Maintains Confidence in Its Financial Stability in the Telecommunications Sector
Tejas Networks Limited’s credit profile in India’s telecommunications equipment sector has received support, as ICRA reaffirmed the company’s rating. The decision underscores confidence in ...
Kaabil Finance PTC ratings reaffirmed, with stable outlook for secured business loan portfolio
A rating has been reaffirmed for a pass-through certificate issuance by Kaabil Finance Private Limited in India’s structured finance market, backed by secured business loan receivables. The ...
ICRA raises India's power demand growth forecast for FY27
With electricity consumption rising in India, the demand growth forecast for FY27 has now been raised to 8.5%. This trend points to strong prospects for the power sector amid an economic recovery, ...
ICRA reaffirms Ashwini Infradevelopments’ rating
Ashwini Infradevelopments Private Limited’s operating and financial performance has remained stable amid market challenges. This stability reflects the company’s revenue streams and debt ...
Goodricke Group’s Rating Reaffirmation Signals Financial Stability in the Tea Sector
ICRA has reaffirmed the credit rating of Goodricke Group Limited, which has an established presence in the Indian tea industry. The move highlights the company’s operational capabilities, stable ...
ICRA raises India’s power demand growth forecast, projects 8.5% expansion in FY27
India’s electricity demand has remained unusually strong in early October 2026 amid intense heat and industrial activity. Based on this trend, ICRA has raised its demand growth forecast for ...
ICRA places Precon Technology And Castings in the non-cooperative issuer category
In India’s credit rating system, issuers are expected to provide information on time to maintain the validity of their ratings. Precon Technology And Castings Ltd has been placed in the ...
ICRA Upgrades Ramco Systems' Credit Rating, Strengthening Its Financial Profile
Indian enterprise software company Ramco Systems Limited has seen its credit profile strengthen on the back of improved financial performance and a robust order book. Its long-term rating has been ...
ICRA retains Qatar National Bank India Branch’s rating
The reaffirmation of the rating of Qatar National Bank’s India branch, which operates in the Indian banking sector, strengthens confidence in its operations and financial stability. This ...
ICRA Reaffirms Ajay Enterprises' Rating
In India's credit market, rating continuity remains an important indicator of companies' access to financing and investor confidence. In the case of Ajay Enterprises Private Limited, the rating ...
India’s commercial vehicle sector set for 4-6% growth in FY2027, ICRA flags H2 pressure
India’s commercial vehicle market records sharp growth at both the wholesale and retail levels in September 2026, signaling strong demand in the first half of the current fiscal year. However, ...
Changes to TPDDL's Regulatory Scope, Focus on Operational Efficiency
Amid changing demand and compliance requirements in Delhi's power distribution sector, Tata Power Delhi Distribution Limited is undergoing changes to its regulatory scope. The company is preparing ...
