SMICC Receives High International Rating, Strengthening Its Credit Stature
SMFG India Credit (SMICC), a subsidiary of Sumitomo Mitsui Financial Group, has been awarded a 'CareEdge A/Stable' rating, enhancing its credit reputation. This recognition reflects SMICC's robust financial framework and strategic market presence, solidifying its role in SMFG's Asia strategy.
- Country:
- India
In a noteworthy development, SMFG India Credit (SMICC), a prominent non-banking financial company, has received an international accolade with a 'CareEdge A/Stable' rating. This rating, assigned by CareEdge Global, surpasses India's sovereign rating by two notches, showcasing SMICC's financial strength and operational excellence.
Operating primarily within the Indian market, SMICC's latest rating underscores its substantial growth, diverse product offerings, and effective risk management. Backed by its parent company Sumitomo Mitsui Financial Group, SMICC benefits from consistent capital support and a robust leadership team, reinforcing its market position.
The rating serves as a vital milestone in SMICC's progression within India's retail credit sector, further aligning with SMFG's comprehensive Asia Multi-Franchise Strategy. With a significant footprint across India, SMICC continues to extend its lending solutions, fostering financial inclusion for underserved demographics.
(With inputs from agencies.)
Google News