Muthoot Finance NCD Oct 2020 vs Muthoottu Mini NCD June 2020

ICRA has assigned "[ICRA]AA" (pronounced ICRA double A) rating with a Stable outlook, assigned to the captioned Non-Convertible Debenture Programme of your company and last communicated to you vide our letter dated September 15, 2020 and September 25, 2020 stands. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. Within this category rating modifier {"+" (plus) or "-" (minus)} can be used with the rating symbols. The modifier reflects the comparative standing within the category.

CRISIL has assigned its 'CRISIL PP-MLD AAr/Positive' rating to Rs.350 crore Proposed Issuance of Long Term Principal Market Linked Debentures of Muthoot Finance Limited (Muthoot Finance). The ratings on existing debt instruments have been at 'CRISIL AA/CRISIL PP-MLD AAr/Positive/CRISIL A1+'.

The NCDs proposed to be issued under this Issue have been rated 'CARE BBB-; Stable' (Triple B Minus; Outlook: Stable) by CARE Ratings Limited for an amount of up to Rs 20,000 lakhs vide its letter dated March 12, 2020. The rating of the NCDs by CARE Ratings Limited indicate that instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk.

Series I to Series VII