Spandana Sphoorty Financial announced that ICRA Ratings has downgraded rating to A- (Negative), for existing instruments of the Company as detailed below:
Long term fund based – Term loan (Rs 2105 crore) - ICRA A- (Negative); downgraded from ICRA A (Negative)
Non convertible debentures (Rs 423 crore) - ICRA A- (Negative); downgraded from ICRA A (Negative)