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Entity-Specific Rating Rationales

09 Apr 2025

SATYA MicroCapital Ltd.: Rating withdrawn for Rs. 78.20-crore debt programme

SATYA MicroCapital Ltd.: Rating withdrawn for Rs. 78.20-crore debt programme

04 Apr 2025

Satya MicroCapital Ltd.: Provisional assigned to PTCs backed by a pool of microfinance and unsecured SME loan receivables

Satya MicroCapital Ltd.: Provisional assigned to PTCs backed by a pool of microfinance and unsecured SME loan receivables

01 Apr 2025

SATYA MicroCapital Ltd.: Rating reaffirmed

SATYA MicroCapital Ltd.: Rating reaffirmed

14 Nov 2024

Satya MicroCapital Ltd.: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

Satya MicroCapital Ltd.: Rating withdrawn for PTCs issued under a microfinance loan securitisation transaction

25 Jun 2024

SATYA MicroCapital Ltd.: [ICRA]BBB+ (Stable) assigned to Rs. 50-crore NCD programme

SATYA MicroCapital Ltd.: [ICRA]BBB+ (Stable) assigned to Rs. 50-crore NCD programme

17 Jun 2024

Satya MicroCapital Ltd.: Rating withdrawn for PTC backed by microfinance loan receivables securitisation transaction

Satya MicroCapital Ltd.: Rating withdrawn for PTC backed by microfinance loan receivables securitisation transaction

14 May 2024

SATYA MicroCapital Ltd.: Rating withdrawn for Rs. 25-crore NCD programme

SATYA MicroCapital Ltd.: Rating withdrawn for Rs. 25-crore NCD programme

02 Apr 2024

SATYA MicroCapital Ltd.: Ratings reaffirmed

SATYA MicroCapital Ltd.: Ratings reaffirmed

13 Mar 2024

Satya MicroCapital Ltd.: Ratings withdrawn for PTCs backed by microfinance loan receivables securitisation transaction

Satya MicroCapital Ltd.: Ratings withdrawn for PTCs backed by microfinance loan receivables securitisation transaction

21 Feb 2024

SATYA MicroCapital Ltd.: [ICRA]BBB+ (Stable) assigned to Rs. 50-crore NCD programme

SATYA MicroCapital Ltd.: [ICRA]BBB+ (Stable) assigned to Rs. 50-crore NCD programme


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Entity-Specific Credit Perspective Reports

10 Apr 2025

Satya MicroCapital Ltd.

Satya MicroCapital Ltd. (SF)

29 Apr 2024

Satya MicroCapital Ltd.

Satya MicroCapital Ltd. (Non-SF)

21 Jun 2023

Satya MicroCapital Ltd.

Satya MicroCapital Ltd. (Non-SF)

14 Jun 2023

Satya MicroCapital Ltd.

Satya MicroCapital Ltd. (SF)

03 Oct 2022

Satya MicroCapital Ltd.

Satya MicroCapital Ltd. (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Bonds/NCD/LTD -- -- [ICRA]BBB+(Stable) --
PTC Series A1a -- -- Provisional [ICRA]AA (SO) --
PTC Series A1b -- -- Provisional [ICRA]A- (SO) --
PTC Series A2 -- -- Provisional [ICRA]BBB+ (SO) --
Market Linked Debenture -- -- Withdrawn --
Subordinated Debt -- -- [ICRA]BBB+(Stable) --
PTC Series A1 -- -- Withdrawn --
PTC Series A1 -- -- Withdrawn --
PTC Series A1 -- -- Withdrawn --
PTC Series A2 -- -- Withdrawn --

Our Analysts

Analyst 1

Pratik Vora

Analyst 2

Gaurav Mashalkar

Sector Head

Manushree Sagar
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