CARE Upgrades Nuvama Wealth’s Long-Term Rating To ‘AA’ With Stable Outlook

Nuvama Wealth Management Ltd. on Saturday said CARE Ratings has upgraded its rating on the company’s long-term instruments to ‘AA’ from ‘AA-’ while maintaining a stable outlook. The agency also reaffirmed its ‘A1+’ rating on the company's short-term instruments, according to an exchange filing.

CARE also upgraded the long-term ratings of key subsidiaries — Nuvama Wealth Finance Ltd., Nuvama Wealth and Investment Ltd., and Nuvama Clearing Services Ltd. — to ‘AA’ with a stable outlook.