India Ratings Upgrades Motilal Oswal Financial Services to AA+

Motilal Oswal Financial Services Limited (MOFSL) has seen its long-term credit rating upgraded by India Ratings and Research to 'IND AA+/Stable' from 'IND AA/Positive'. This upgrade extends to key subsidiaries, including Motilal Oswal Home Finance Limited and Motilal Oswal Finvest Limited, with short-term ratings affirmed at 'IND A1+'. The upgrade reflects MOFSL's strengthened business profile, driven by the growth in its asset management and private wealth businesses, increasing recurring fee-based revenue, and sustained profitability. Improved earnings diversification and comfortable capitalization also contributed to the positive rating action.