We extend the theory of indefinite Hardy spaces on finite bordered Riemann surfaces to the setting of ramified analytic coverings. Given a finite -sheeted ramified covering of finite bordered Riemann surfaces satisfying a spin-compatibility hypothesis, we construct (i) the direct image of a unitary flat vector bundle on the double under , taking full account of the ramification divisor and establishing the extension across the branch locus via a careful local analysis; (ii) a canonical matrix function encoding the parahermitian structure on , together with the induced representation of ; (iii) an explicit isometric isomorphism between the associated Hardy-Kreĭn spaces, provided that and that the branch locus is disjoint from . We then develop the resulting operator theory in terms of vessels and Bezoutian operators. To each object in the category of finite bordered surfaces with unitary flat bundles we attach a triangular vessel whose input and output spaces are the Hardy-Kreĭn spaces on the two surfaces; the Bezoutian of the vessel is expressed as a finite-rank operator on whose kernel is built from bounded holomorphic point-evaluation functionals in evaluated at the interior ramification images , consistently with the boundary-transversality hypothesis . We prove that the assignment extends to a covariant functor from (with ramified morphisms) to the category of Kreĭn spaces.

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