Motilal Oswal Financial Services Limited — Credit Ratings, 10-10-2025: Credit Rating- Revision

ICRA Limited has upgraded Motilal Oswal Financial Services' (MOFSL) long-term credit rating to [ICRA]AA+ (Stable) from [ICRA]AA (Positive). This covers NCDs and bank lines for MOFSL and its key subsidiaries. The upgrade reflects MOFSL's strong market position, profitability, and comfortable capitalization. Short-term ratings, including Commercial Papers, were reaffirmed at [ICRA]A1+.