Muthoot Finance credit rating upgraded to Ba1 by Moody's

Moody's Ratings announced an upgrade to Muthoot Finance Limited's long-term issuer rating to 'Ba1' with a 'Stable' outlook, moving up from 'Ba2'. The upgrade reflects Muthoot's robust credit profile, underpinned by its leading franchise and solid performance in the gold financing sector. According to Moody's, Muthoot's operational controls, risk management, and consistent underwriting standards support its growth and asset quality, even amidst competitive pressures. The agency highlighted Muthoot's profitability, with net income to average managed assets strong at 4.9% for the nine months ended December 2024. Muthoot Finance's stable asset quality supports superior capitalization, with its tangible common equity to total managed assets (TCE/TMA) at around 23.3%.