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Entity-Specific Rating Rationales

31 Dec 2024

Satin Finserv Limited: Provisional [ICRA]AA-(SO) assigned to Series A1(a) PTCs and Provisional [ICRA]A+(SO) assigned to Series A1(b) PTCs, backed by secured business loan receivables issued by Butterfly 12 2024

Satin Finserv Limited: Provisional [ICRA]AA-(SO) assigned to Series A1(a) PTCs and Provisional [ICRA]A+(SO) assigned to Series A1(b) PTCs, backed by secured business loan receivables issued by Butterfly 12 2024

31 Dec 2024

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC backed by secured business loan receivables issued by Bluestreak 12 2024

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC backed by secured business loan receivables issued by Bluestreak 12 2024

24 Dec 2024

Satin Finserv Limited: Rating reaffirmed

Satin Finserv Limited: Rating reaffirmed

28 Aug 2024

Satin Finserv Limited: [ICRA]A- (Stable) assigned to Rs. 60-crore NCD programme

Satin Finserv Limited: [ICRA]A- (Stable) assigned to Rs. 60-crore NCD programme

15 Apr 2024

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Leonard 03 2024

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Leonard 03 2024

31 Mar 2024

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC backed by secured business loan receivables issued by Leonard 03 2024

Satin Finserv Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC backed by secured business loan receivables issued by Leonard 03 2024

18 Mar 2024

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Ensata 12 2023

Satin Finserv Limited: Rating confirmed as final for PTCs backed by secured business loan receivables issued by Ensata 12 2023

08 Jan 2024

Satin Finserv Limited: [ICRA]A- (Stable) assigned to Rs. 60-crore NCD programme

Satin Finserv Limited: [ICRA]A- (Stable) assigned to Rs. 60-crore NCD programme

05 Jan 2024

Satin Finserv Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB+(SO) assigned to equity tranche backed by secured business loan receivables issued by Ensata 12 2023

Satin Finserv Limited: Provisional [ICRA]A+(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB+(SO) assigned to equity tranche backed by secured business loan receivables issued by Ensata 12 2023

27 Dec 2023

Satin Finserv Limited: [ICRA]A- (Stable) assigned to bank facilities programme

Satin Finserv Limited: [ICRA]A- (Stable) assigned to bank facilities programme

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Entity-Specific Credit Perspective Reports

17 Jan 2025

Satin Finserv Limited

Satin Finserv Limited (Non-SF)

31 Dec 2024

Satin Finserv Limited

Satin Finserv Limited (SF)

31 Dec 2024

Satin Finserv Limited

Satin Finserv Limited (SF)

01 Apr 2024

Satin Finserv Limited

Satin Finserv Limited (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTC -- -- Provisional [ICRA]A (SO) --
Series A1(a) PTCs -- -- Provisional [ICRA]AA- (SO) --
Series A1(b) PTCs -- -- Provisional [ICRA]A+ (SO) --
Non Convertible Debenture -- -- [ICRA]A-(Stable) --
Series A1 PTC -- -- [ICRA]A(SO) --
Series A1 PTC -- -- [ICRA]A+(SO) --
Equity tranche -- -- [ICRA]BBB+(SO) --
Long-term bank facilities (others) -- -- [ICRA]A-(Stable) --

Our Analysts

Analyst 1

Arti Verma

Analyst 2

Prateek Mittal

Sector Head

Karthik Srinivasan
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