Spandana Sphoorty Financial receives downgrade in credit ratings

Spandana Sphoorty Financial announced that ICRA Ratings has downgraded rating to A- (Negative), for existing instruments of the Company as detailed below:

Long term fund based - Term loan (Rs 2105 crore) - ICRA A- (Negative); downgraded from ICRA A (Negative)

Non convertible debentures (Rs 423 crore) - ICRA A- (Negative); downgraded from ICRA A (Negative)