CRISIL Ratings has upgraded Muthoot Fincorp Limited’s rating from ‘A’ (stable) to ‘A + (stable)’.
This rating upgrade is a reflection of the company’s healthy performance in the gold loan portfolio, its established position in the country’s gold loan business; Its strong fundamentals; According to Crisil Ratings, its healthy performance is reflected by the steady growth in assets under management (AUM), sound asset quality and an enhanced earnings profile.
“The rating upgrade by CRISIL is very important in strengthening the confidence of our lenders and retail investors. The upgrade will also enable the company to widen its retail and corporate investor base, ”said Thomas John Muthoot, CMD.
The rating upgrade also reflects a high degree of security regarding the timely servicing of the company’s NCDs.
“Ratings indicate that Muthoot Fincorp’s business profile will continue to be strengthened by its established market position in the gold loan segment, extensive experience in the gold loan industry, healthy asset quality, and improved earnings profile in the gold loan portfolio ., The company said in a statement.
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