Spandana Sphoorty Financial Limited — Credit Ratings, 21-10-2024: Credit Rating

Spandana Sphoorty Financial Limited's credit ratings have been reaffirmed at A+ (Stable) by ICRA, with the rated amounts for its long-term term loan and non-convertible debentures maintained at ₹2,105 crore and ₹223 crore, respectively. Newly assigned long-term non-convertible debentures amounting to ₹200 crore are now rated A+ (Stable). The company faces challenges with asset quality deterioration, having seen a rise in gross stage 3 assets to 2.9%. Future performance will be closely monitored, especially regarding profitability and asset quality.