bg-rating-rationales

Entity-Specific Rating Rationales

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

19 Jan 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

19 Jan 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

02 Jan 2026

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A issued by Coral 12 2025, backed by a pool of microfinance loans

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A issued by Coral 12 2025, backed by a pool of microfinance loans

02 Jan 2026

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A1 issued by Kaveri 03 2025, backed by a pool of microfinance loans

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A1 issued by Kaveri 03 2025, backed by a pool of microfinance loans

30 Dec 2025

Spandana Sphoorty Financial Limited: Provisional [ICRA]A+(SO) assigned to PTC Series A1 issued by Aster 12 2025, backed by a pool of microfinance loans

Spandana Sphoorty Financial Limited: Provisional [ICRA]A+(SO) assigned to PTC Series A1 issued by Aster 12 2025, backed by a pool of microfinance loans

24 Dec 2025

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A1 issued by Falcon 12 2025, backed by a pool of microfinance loans

Spandana Sphoorty Financial Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A1 issued by Falcon 12 2025, backed by a pool of microfinance loans

05 Nov 2025

Spandana Sphoorty Financial Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Pueblo 09 2025

Spandana Sphoorty Financial Limited: Ratings confirmed as final for PTCs backed by microfinance loan receivables issued by Pueblo 09 2025


bg-rating-crediet-reports

Entity-Specific Credit Perspective Reports

23 Mar 2026

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

14 Jan 2026

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (Non-SF)

08 Jan 2026

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

08 Jan 2026

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

08 Jan 2026

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

08 Jan 2026

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

07 Oct 2025

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

19 Aug 2025

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

13 Feb 2025

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)

31 Jan 2025

Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited (SF)


Ratings

Description
Short Term
Medium Term
Long Term
Issuer
PTC Series A1b -- -- Provisional [ICRA]A(SO) --
PTC Series A1a -- -- Provisional [ICRA]AA(SO) --
PTC Series A1 -- -- [ICRA]AA+(SO) --
PTC Series A1 -- -- [ICRA]AA-(SO) --
PTC Series A1 -- -- [ICRA]AA+(SO) --
PTC Series A1 -- -- [ICRA]AA(SO) --
PTC Series A1 -- -- Provisional [ICRA]AA- (SO) --
PTC Series A -- -- Provisional [ICRA]AA- (SO) --
PTC Series A1 -- -- Provisional [ICRA]A+ (SO) --
PTC Series A1 -- -- Provisional [ICRA]AA- (SO) --

Our Analysts

Analyst 1

Vishal Oza 2

Analyst 2

Gaurav Mashalkar

Sector Head

Manushree Saggar
bg-rating-research

Most Trending Research Reports


View More
bg-rating-rationales

Rating Rationales

icon-download

View More

Credit Quality Trends and ICRA’s Outlook for FY2027

Mr. K Ravichandran,Ms. Aditi Nayar,Mr. Pratik Singhania

01 Apr 2026 04:00 PM
Register now 8 days Left

Road sector hits a slow lane as project awarding moderates

Mr. Suprio Banerjee,Mr. M Rajashekar Reddy

25 Feb 2026 04:00 PM

PPT Icon PPT

Specialty Chemicals: Industry on a slow road to recovery

Girishkumar Kadam,Prashant Vasisht

19 Feb 2026 04:00 PM

PPT Icon PPT

Podcast

View More

Media Release



View More
Ask Our Industry Analyst Get in touch with our Business Representative
Please enter your name
Please enter your mobile number
Please enter your email id
Please enter your company name
Name should not be greater than 50 characters
Please choose sector
Please enter your query
Query to have atleast ten characters
Query should not be greater than 1,000 characters
Please verify you are not a Robot.