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Entity-Specific Rating Rationales

22 May 2026

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTCs and Provisional [ICRA]BBB+(SO) assigned to Series A2 PTCs backed by secured business loan receivables issued by Nezuko Trust 2026

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTCs and Provisional [ICRA]BBB+(SO) assigned to Series A2 PTCs backed by secured business loan receivables issued by Nezuko Trust 2026

20 May 2026

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Uranus 2025

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Uranus 2025

20 May 2026

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Marigold 12 2025

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Marigold 12 2025

29 Apr 2026

Satin Finserv Limited: Rating upgrade for two PTCs issued under secured business loan securitisation transactions

Satin Finserv Limited: Rating upgrade for two PTCs issued under secured business loan securitisation transactions

05 Mar 2026

Satin Finserv Limited: [ICRA]A- (Stable)/[ICRA]A2+ assigned; rating reaffirmed

Satin Finserv Limited: [ICRA]A- (Stable)/[ICRA]A2+ assigned; rating reaffirmed

26 Feb 2026

Satin Finserv Ltd: Rating withdrawn for PTCs issued under a secured business loan receivables securitisation transaction

Satin Finserv Ltd: Rating withdrawn for PTCs issued under a secured business loan receivables securitisation transaction

31 Dec 2025

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB+(SO) assigned to Equity Tranche backed by secured business loan receivables issued by Marigold 12 2025

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB+(SO) assigned to Equity Tranche backed by secured business loan receivables issued by Marigold 12 2025

26 Dec 2025

Satin Finserv Limited: Rating assigned/reaffirmed

Satin Finserv Limited: Rating assigned/reaffirmed

12 Dec 2025

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB+(SO) assigned to Series A2 PTC backed by secured business loan receivables issued by Uranus 2025

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB+(SO) assigned to Series A2 PTC backed by secured business loan receivables issued by Uranus 2025

08 Dec 2025

Satin Finserv Limited: Ratings withdrawn for PTCs issued under a secured business loan receivables securitisation transaction

Satin Finserv Limited: Ratings withdrawn for PTCs issued under a secured business loan receivables securitisation transaction