Muthoot Finance gets ‘AA-’ rating from CRISIL for NCD issue

Credit rating agency, CRISIL has assigned ‘AA-’ rating with stable outlook to Rs 500 crore non-convertible debenture (NCD) issue of Muthoot Finance (MFL). The rating agency has also reaffirmed ‘A1+’ rating of the company’s short-term debt worth Rs 4,000 crore.

The company has received the said rating on the back of its established track record in the business of financing against gold jewellery, its strong and stable asset quality, and healthy earnings profile.

Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.