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Entity-Specific Rating Rationales

03 Oct 2025

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC backed by microfinance loan receivables issued by Phantom 2026

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC backed by microfinance loan receivables issued by Phantom 2026

25 Sep 2025

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC backed by microfinance loan receivables issued by Trumpet 2023

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC backed by microfinance loan receivables issued by Trumpet 2023

17 Sep 2025

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Rambo 2026

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Rambo 2026

02 Sep 2025

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC and Provisional [ICRA]AA(SO) assigned to Series A2 PTCs backed by microfinance loan receivables issued by Theseus 2025

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC and Provisional [ICRA]AA(SO) assigned to Series A2 PTCs backed by microfinance loan receivables issued by Theseus 2025

14 Aug 2025

Satin Creditcare Network Limited: Ratings assigned/reaffirmed; rating simultaneously withdrawn for matured NCDs

Satin Creditcare Network Limited: Ratings assigned/reaffirmed; rating simultaneously withdrawn for matured NCDs

16 Jul 2025

Satin Creditcare Network Limited: [ICRA]A (Stable) assigned to subordinated debt; ratings reaffirmed for other instruments

Satin Creditcare Network Limited: [ICRA]A (Stable) assigned to subordinated debt; ratings reaffirmed for other instruments

10 Jul 2025

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Rover 2025

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Rover 2025

10 Jun 2025

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by microfinance loan receivables issued by Rambo 2026

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by microfinance loan receivables issued by Rambo 2026

01 May 2025

Satin Creditcare Network Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

Satin Creditcare Network Limited: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

29 Apr 2025

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Bougainvillea 2024

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Bougainvillea 2024


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Entity-Specific Credit Perspective Reports

13 Oct 2025

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

25 Sep 2025

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

02 Sep 2025

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

16 Jun 2025

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

07 Mar 2025

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

21 Jan 2025

Satin Creditcare Network Limited

Satin Creditcare Network Limited (Non-SF)

09 Jan 2025

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

16 Feb 2024

Satin Creditcare Network Limited

Satin Creditcare Network Limited (Non-SF)

06 Jul 2023

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

04 Jul 2023

Satin Creditcare Network Limited

Satin Creditcare Network Limited (Non-SF)


Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTC -- -- Provisional [ICRA]AA+ (SO) --
Series A1 PTC -- -- Provisional [ICRA]AA+ (SO) --
Series A1 PTC -- -- [ICRA]AA+(SO) --
Series A1 PTC -- -- Provisional [ICRA]AA+ (SO) --
Series A2 PTC -- -- Provisional [ICRA]AA (SO) --
Non-Convertible Debenture -- -- [ICRA]A(Stable) --
Subordinated Debt -- -- [ICRA]A(Stable) --
Series A1 PTC -- -- [ICRA]AA+(SO) --
Series A1 PTC -- -- Withdrawn --
Series A1 PTC -- -- [ICRA]A-(SO) --

Our Analysts

Analyst 1

Swapnali Chavan

Analyst 2

Sumit Pramanik

Sector Head

Manushree Sagar
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