bg-rating-rationales

Entity-Specific Rating Rationales

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

23 Mar 2026

Spandana Sphoorty Financial Limited: Rating upgraded for PTCs issued under microfinance loan receivables securitisation transaction

Spandana Sphoorty Financial Limited: Rating upgraded for PTCs issued under microfinance loan receivables securitisation transaction

23 Mar 2026

Spandana Sphoorty Financial Limited: Provisional ratings assigned to PTCs backed by a pool of microfinance loan receivables

Spandana Sphoorty Financial Limited: Provisional ratings assigned to PTCs backed by a pool of microfinance loan receivables

16 Feb 2026

Spandana Sphoorty Financial Limited: Rating reaffirmed for PTCs issued under microfinance loan receivables securitisation transaction

Spandana Sphoorty Financial Limited: Rating reaffirmed for PTCs issued under microfinance loan receivables securitisation transaction