Credit rating agency- CRISIL has upgraded its rating on the long-term debt facilities of Muthoot Finance to 'AA+/Stable' from ‘AA/Positive’. The upgrade is driven by Muthoot Finance’s demonstrated ability to profitably scale up its core gold loan business while maintaining its strong financial risk profile. Established track record and brand name in gold financing industry, Strong capitalization and Profitability among the best in the industry which is expected to remain healthy are the strengths of the company.
This rating upgrade will enable the Company to raise more long term debt funds as well as attract wider set of investors.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.
