Spandana Sphoorty Financial Limited — Credit Ratings, 11-06-2026: Credit Rating

ICRA Limited has reaffirmed Spandana Sphoorty Financial's [ICRA]BBB+ rating for its Rs. 1,000 Cr Term Loans and Rs. 523 Cr NCDs, revising the outlook to Stable from Negative. This reflects easing asset quality pressure and improved profitability in H2 FY2026, driven by better collection efficiency, significant write-offs, and a healthy new portfolio performance.