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India Ratings Downgrades Spandana Sphoorty
Business Standard
|August 28, 2025
India Ratings has downgraded ratings for microfinance institution (MFI) Spandana Sphoorty Financial Ltd's debentures and loans from "A-" to "BBB+" due to pressure on profitability largely on account of elevated credit costs and operating expenses.
While its capital profile was healthy with Capital Adequacy Ratio (CAR) of 46 per cent in August 2025, its asset quality was weak, with gross non-performing assets (NPAs) standing at 5.49 per cent and net NPAs at 1.21 per cent as of June 2025.
This story is from the August 28, 2025 edition of Business Standard.
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