Motilal Oswal Financial Services receives upgrade in LT credit ratings

Motilal Oswal Financial Services (MOFSL) has upgraded the long-term credit rating of the company and its key subsidiaries to 'IND AA+' with a Stable Outlook, from 'IND AA' with a Positive Outlook. The upgrade applies to the non-convertible debentures (NCDs) and bank loan facilities of MOFSL and Motilal Oswal Home Finance (MOHFL), and to the NCDs of Motilal Oswal Finvest (MOFL). Ind-Ra has also affirmed the 'IND A1+' rating on the commercial paper programmes of MOFSL, MOFL and Motilal Oswal Wealth (MOWL).