Press release dated March 18, 2025, titled "Rating Upgrade by S&P Global Ratings"

Muthoot Finance Limited has informed the Exchange regarding a press release dated March 18, 2025, titled "Rating Upgrade by S&P Global Ratings". NSE IFSC Limited (NSE IX). S&P Global Ratings has, on March 17, 2025, raised Issuer credit ratings on Muthoot Finance Limited.

An upgrade lowers the cost of refinancing and widens the pool of lenders willing to fund the company.

• Whether existing debt is refinanced at lower cost
• The agency's stated rationale
• This reflects our view that the company will maintain its excellent capital and earnings over the next 12 mont (management committed by H1 FY26)
• We expect some stress in the asset quality of Muthoot's microfinance subsidiary, in line with the industry. (management committed by H1 FY26)