Nuvama Wealth Management Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
Nuvama Wealth Management has informed the exchanges that ICRA has assigned a credit rating of [ICRA]AA- with a Positive outlook to the Non-Convertible Debentures (NCDs) of its two wholly-owned material subsidiaries: Nuvama Wealth Finance Limited and Nuvama Wealth and Investment Limited. AA- is a high investment-grade rating on ICRA's scale, indicating strong capacity to meet financial commitments with low credit risk. The Positive outlook suggests the rating could be upgraded in the near term if the subsidiaries' financial profile continues to strengthen. The rating rationale is available on ICRA's website for both entities.
This is a positive development for shareholders — the high investment-grade rating with a Positive outlook reflects strong financial health of the subsidiaries and should support lower borrowing costs for future debt issuances, enhancing overall capital efficiency for the group.