S&P upgrades Manappuram Finance's long term rating from 'B+' to 'BB-'

S&P expects that Manappuram Finance will continue to perform better than its NBFC peers over the next 12 months

Standard and Poor's (S&P) has upgraded Manappuram Finance Ltd's long term issuer rating from "B+" to "BB-" on the expectation that it will continue to perform better than its NBFC peers over the next 12 months.

The outlook is stable. The global Rating agency also affirmed the 'B' short-term issuer credit rating on the India-based finance company.