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Entity-Specific Rating Rationales

31 Mar 2026

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 Charizard 2026

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 Charizard 2026

10 Mar 2026

Satin Creditcare Network Limited: [ICRA]A (Stable) assigned/ratings reaffirmed; rating simultaneously withdrawn for matured NCDs

Satin Creditcare Network Limited: [ICRA]A (Stable) assigned/ratings reaffirmed; rating simultaneously withdrawn for matured NCDs

24 Feb 2026

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

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

02 Feb 2026

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by microfinance loan receivables issued by ROVER 2023

Satin Creditcare Network Limited: Provisional [ICRA]AA+(SO) assigned to PTCs backed by microfinance loan receivables issued by ROVER 2023

22 Jan 2026

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

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

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


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Entity-Specific Credit Perspective Reports

31 Mar 2026

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

02 Feb 2026

Satin Creditcare Network Limited

Satin Creditcare Network Limited (SF)

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)


Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A2 PTC -- -- Provisional [ICRA]AA(SO) --
Series A1 PTC -- -- Provisional [ICRA]AA+(SO) --
NCD -- -- [ICRA]A(Stable) --
Long-term/Short-term – Fund-based – Others [ICRA]A1 -- [ICRA]A(Stable) --
Commercial Paper [ICRA]A1 -- -- --
Subordinated bonds/debt -- -- [ICRA]A(Stable) --
NCD -- -- [ICRA]A(Stable) --
Subordinated bonds/debt -- -- [ICRA]A(Stable) --
NCD -- -- [ICRA]A(Stable) --
Series A1 PTC -- -- [ICRA]AA+(SO) --

Our Analysts

Analyst 1

Swapnali Chavan

Analyst 2

Sumit Pramanik

Sector Head

Manushree Saggar
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