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CARE Ratings has upgraded the long-term rating of Nuvama Wealth Management Limited and its key subsidiaries from ‘CARE AA-/Stable’ to ‘CARE AA/Stable’, while reaffirming their short-term ratings at ‘CARE A1+’. This upgrade reflects an improvement in the company’s credit profile, driven by stronger financial health and stable operational performance. The enhanced rating is likely to lower Nuvama’s cost of borrowing and boost investor confidence, providing greater flexibility in capital management. The reaffirmation of short-term ratings indicates sustained liquidity strength across the group’s entities.