SMFG India Credit Secures Prestigious Global Rating

SMFG India Credit (SMICC), a subsidiary of Sumitomo Mitsui Financial Group, has been given a 'CareEdge A/Stable' rating by CareEdge Global. This highlights SMICC’s strong creditworthiness and robust operational framework. The rating is supported by its parent company's credit profile and SMICC’s comprehensive product portfolio and strong capitalization.

SMFG India Credit (SMICC), a major non-banking financial company, has received a Long-Term Foreign Currency Issuer Rating of 'CareEdge A/Stable' from CareEdge Global. This rating is two notches above India's sovereign rating, reflecting SMICC's strong financial stability and creditworthiness.

The rating underscores the strength of SMFG's complete ownership of SMICC, with the company's ongoing operations concentrated solely in the Indian market. The international recognition signifies SMICC's growing impact, its range of financial products across regions, and its efficient risk management strategies.

SMICC's strong capitalization, buoyed by regular capital infusions from SMFG, supports a diverse funding base, a skilled leadership team, and sound liquidity. SMICC, alongside its subsidiary SMFG Grihashakti, offers expansive lending solutions to underserved segments, contributing to the company's robust presence in the retail credit sector in India.

(With inputs from agencies.)