bg-rating-rationales

Entity-Specific Rating Rationales

25 May 2026

Spandana Sphoorty Financial Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

Spandana Sphoorty Financial Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

15 May 2026

Spandana Sphoorty Financial Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Scarlet 12 2025

Spandana Sphoorty Financial Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Scarlet 12 2025

07 May 2026

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Vega 03 2026

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Vega 03 2026

04 May 2026

Spandana Sphoorty Financial Limited: Provisional [ICRA]A(SO) assigned to PTC Series A1 issued by Noblesse Trust 2026, backed by a pool of microfinance loans

Spandana Sphoorty Financial Limited: Provisional [ICRA]A(SO) assigned to PTC Series A1 issued by Noblesse Trust 2026, backed by a pool of microfinance loans

24 Apr 2026

Spandana Sphoorty Financial Limited: Rating reaffirmed; assigned for fresh NCDs

Spandana Sphoorty Financial Limited: Rating reaffirmed; assigned for fresh NCDs

20 Apr 2026

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Kaveri 03 2025

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Kaveri 03 2025

10 Apr 2026

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Aster 12 2025

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Aster 12 2025

10 Apr 2026

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Falcon 12 2025

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Falcon 12 2025

10 Apr 2026

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Coral 12 2025

Spandana Sphoorty Financial Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Coral 12 2025

31 Mar 2026

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A1 issued by Vega 03 2026, backed by a pool of microfinance loans

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A1 issued by Vega 03 2026, backed by a pool of microfinance loans