CARE downgrades credit ratings of Spandana Sphoorty Financial

Spandana Sphoorty Financial announced that CARE Ratings has downgraded rating has downgraded rating to CARE A- (Stable), for existing instruments of the Company.

Long term rating (Rs 800 crore) - CARE A- (Stable); downgraded from CARE A Negative
Non convertible debentures (Rs 500 crore) - CARE A- (Stable); downgraded from CARE A Negative
Non convertible debentures (Rs 200 crore) - CARE A- (Stable); downgraded from CARE A Negative
Commercial paper (Rs 100 crore) - CARE A2+; downgraded from CARE A1