CareEdge Global awards SMICC a long-term foreign currency issuer rating two notches above India’s sovereign, citing robust fundamentals and strong parent backing
Mumbai, August 7, 2025: SMFG India Credit (SMICC), a prominent non-banking financial company and wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), has been awarded a Long-Term Foreign Currency Issuer Rating of ‘CareEdge A/Stable’ by CareEdge Global. Notably, the rating stands two notches above India’s sovereign rating, signaling strong investor confidence in SMICC’s financial health and operational stability.
The elevated rating reflects SMICC’s solid creditworthiness, underpinned by its 100% ownership by SMFG, one of the world’s leading financial groups. Despite operating solely within India, SMICC’s growing scale, wide-ranging product portfolio, and disciplined risk management have earned it global recognition.
CareEdge Global highlighted SMICC’s adequate capitalization—bolstered by regular capital support from SMFG—alongside a diversified funding base, seasoned leadership, and a strong liquidity profile as key drivers of the rating.
Speaking on the milestone, Mr. Pankaj Malik, Chief Financial Officer at SMFG India Credit, said, “We are pleased to receive the ‘CareEdge A/Stable’ rating from CareEdge Global, which validates our strong fundamentals and reinforces the trust placed in us by our stakeholders. This recognition reflects our consistent efforts to build a scalable, inclusive, and resilient financial services platform aligned with SMFG’s global vision. We remain committed to responsible growth, prudent risk management, and delivering long-term value.”
This international rating marks a significant step in SMICC’s evolution and reinforces its strategic role in advancing SMFG’s Asia Multi-Franchise Strategy within India’s dynamic retail credit ecosystem.
About SMFG India Credit:
SMFG India Credit (formerly Fullerton India) is a leading non-banking financial company focused on delivering inclusive financial solutions across India. With strong backing from its parent company, Sumitomo Mitsui Financial Group (SMFG), SMICC offers a diverse range of lending products across urban and rural markets, supported by technology-driven operations and robust risk frameworks.
