S&P Global Ratings Upgrades Piramal Finance Limited to 'BB' with Stable Outlook
Published on: Feb. 17, 2026, 8:04 a.m. | Source: scanx.trade
S&P Global Ratings upgraded Piramal Finance Limited's long-term issuer credit rating to 'BB' from 'BB-' with stable outlook, reflecting stronger business stability and retail-focused transformation. The company has total outstanding borrowings of ₹75,000 crore and raised ₹14,000 crore in ECBs across FY 25 and FY 26. With retail loans projected to account for 85% of total AUM by FY26, the upgrade supports the company's diversified funding strategy and growth ambitions as an upper layer NBFC serving over 5 million customers.
