bg-rating-rationales

Entity-Specific Rating Rationales

31 Dec 2025

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC and Provisional [ICRA]AA(SO) assigned to Series A2 PTC backed by microfinance loan receivables issued by Slovakia 2023

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to Series A1 PTC and Provisional [ICRA]AA(SO) assigned to Series A2 PTC backed by microfinance loan receivables issued by Slovakia 2023

30 Dec 2025

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

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

24 Dec 2025

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Trumpet 2023

Satin Creditcare Network Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Trumpet 2023

18 Dec 2025

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

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

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


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Entity-Specific Credit Perspective Reports

08 Jan 2026

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

05 Jan 2026

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

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)


Ratings

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

Our Analysts

Analyst 1

Swapnali Chavan

Analyst 2

Sumit Pramanik

Sector Head

Manushree Sagar
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