Arman Financial, Namra Finance credit ratings downgraded

Arman Financial Services Limited has informed regulatory bodies, including BSE and NSE, of a credit rating downgrade by Acuité Ratings & Research Limited. The credit rating for Arman Financial Services and its subsidiary, Namra Finance Limited, for bank loan ratings and non-convertible debentures (NCDs) has been revised from Acuité A (outlook: negative) to Acuité A- (outlook: stable).

The company noted that while the revision occurred on September 23, 2025, it was not immediately intimated due to the implementation of a new system-driven disclosure mechanism. However, following a clarification email from the NSE on October 6, 2025, it was confirmed that such disclosures are still mandatory for listed entities.

The intimation was submitted to comply with Regulation 30, 51, and 55 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and an NSE Circular dated August 1, 2025, concerning system-driven disclosures for credit rating and ESG rating.