Pl find attached intimation wrt Credit rating of material subsidiary
Awaiting price reaction for this filing.
Nuvama Wealth Management has informed stock 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, indicating strong ability to meet financial commitments. The 'Positive' outlook signals that ICRA sees the possibility of a further rating upgrade in the near term, reflecting confidence in the subsidiaries' credit profile and business outlook.
This is a positive development for Nuvama shareholders, as a high investment-grade rating with a Positive outlook lowers borrowing costs for the subsidiaries and reflects strong financial health, which is supportive of the stock's sentiment.