Satin Creditcare Network has received a revision in rating by CARE Ratings for their Long Term Bank Facilities and Non-Convertible Debenture (NCDs) from BBB+ stable to A- stable. While, the Preference Shares rating has been upgraded from BBB to BBB+, whereas the Sub-debt facilities rating have been upgraded by two notches from BBB to A-, and rating of Commercial Paper (CP) issue has been revised from A2 to A2+.
This revision indicates that the rating agency has upgraded the company from a moderate degree of safety regarding timely servicing of financial obligations and moderate credit risk to adequate degree of safety regarding timely servicing of financial obligations with low credit risk.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
