These ratings will enable Muthoot Finance to access international debt market.

Fitch Ratings in its press release has stated, inter alia, “The ratings take into account Muthoot Finance's well-established franchise in the niche segment of gold-backed financing, its low credit losses and satisfactory leverage.”

S&P Global Ratings in its press release has stated, inter alia, “The ratings on Muthoot Finance are driven by the company's very strong capital and earnings, with the risk-adjusted capital ratio at above 45%. Muthoot Finance also has a strong market position in loans against gold although it is relatively small in the overall financial sector in India.”

Moody's Investor Service in its press release has stated , inter alia , “Rating takes into account the company's (1) leading franchise and well established track record in lending against the gold jewelry segment in India, and (2) strong solvency metrics, including asset quality, capital and profitability”.

George Alexander Muthoot, Managing Director, on this occasion, stated “This is another achievement by Muthoot Finance and it is a recognition of its leading, long track record in gold loan business. With this rating we are expecting to access international debt markets which will enable us to further expand our business.”