Spandana Sphoorty Financial credit rating downgraded amid financial weakening

Spandana Sphoorty Financial (BSE:SPANDANA) faces credit rating downgrades from both CARE Ratings and ICRA Ratings, reflecting concerns over the company's financial health. CARE Ratings has downgraded Spandana's long-term and short-term debt instruments to A- (Stable) and CARE A2+ respectively, from CARE A, citing continued weakening in consolidated earnings and asset quality metrics. SSFL reported a consolidated net loss of INR1,035 crore in FY2025 with gross stage 3 assets (GS3) reaching 5.63%. The rating downgrades impact long-term bank facilities worth INR800.00 crore, non-convertible debentures of INR700.00 crore, and commercial paper of INR100.00 crore.