Rating agency ICRA has revised the outlook on Satin Creditcare Network’s (SCNL) debentures from ‘stable’ to ‘negative’. The revision in outlook reflects SCNL’s elevated financial risk profile following demonetisation, which is reflected in the lender's deteriorating asset quality. However, the rating agency has affirmed ‘BBB+’ rating for these non-convertible debentures and subordinated debt.
Satin Creditcare Network was formed as a Non-Banking Finance Company (NBFC) and has expanded and evolved into one of the leading microfinance institutions in India with its current geography in North as well as Central India.
