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Spandana Sphoorty Financial Ltd. ( (IN:SPANDANA) ) just unveiled an announcement.
Spandana Sphoorty Financial Limited has experienced a downgrade in its credit rating by ICRA Limited, moving from [ICRA]A- (Negative) to [ICRA]BBB+ (Negative). This downgrade reflects the company’s weakened profitability and asset quality, alongside a significant decline in its assets under management. The company’s operating efficiencies have deteriorated, and it faces challenges in managing credit costs and maintaining its capital base. The downgrade may impact its ability to attract investment and could have implications for its financial stability and stakeholder confidence.
More about Spandana Sphoorty Financial Ltd.
Spandana Sphoorty Financial Limited operates in the financial services industry, focusing on providing microfinance solutions. The company is primarily engaged in offering credit to low-income individuals and households, aiming to enhance financial inclusion in underserved markets.
Average Trading Volume: 31,792
Technical Sentiment Signal: Sell
Current Market Cap: 22.12B INR
For a thorough assessment of SPANDANA stock, go to TipRanks’ Stock Analysis page.