CRISIL Upgrades True Credits to BBB+; Recognises Strengthening Business Profile, Governance and Profitability
Mumbai, July 7 :True Balance, an AI-driven financial services platform, today announced that CRISIL, has upgraded the long-term credit rating of its Non-Banking Financial Company subsidiary, True Credits Private Limited, from BBB to BBB+.
The rating upgrade marks an important milestone for True Credits and reflects the company’s continued progress in building a scalable, governance-led and technology-driven digital lending business. Operating under the regulatory purview of the Reserve Bank of India , True Credits has consistently expanded its credit offerings, powered by AI-driven risk assessment, to drive financial inclusion for middle- and low-income borrowers across India.
Credit ratings are an important independent assessment of a company’s overall credit profile, including its business model, financial performance, capitalisation, asset quality, governance standards and risk-management framework. The upgrade by CRISIL Ratings reflects the strengthening of True Credits’ business profile, supported by growth in lending operations, improved profitability and a healthy net worth base.
As highlighted in the rating assessment, True Credits has demonstrated sustained scale-up in its lending operations, with annual disbursements increasing by 28%. The company has also maintained healthy capitalisation metrics, supported by an expanded net worth base, which provides a strong foundation for future growth.
True Balance operates as a comprehensive AI-powered financial services platform that facilitates its own credit offerings while seamlessly connecting external financial institutions with end-users. By maintaining this robust hybrid approach – balancing a strong on-book portfolio with off-book lending through a diverse network of partners – the platform remains structurally insulated from market volatility and business risks.
From a strategic standpoint, this rating upgrade is expected to optimize True Credits‘ liability profile and overall cost of funds. By utilizing True Balance’s proprietary Alternative Credit Scoring system, the NBFC has continuously refined its underwriting and risk mitigation. This tech-driven discipline is reflected in True Credits‘ sharply reduced credit costs, which improved to 3.6% in fiscal 2026, alongside consistently strengthening overall asset quality.
Anupam Vasdani, CFO of True Balance, noted,
“This upgrade is an important validation of True Credits’ strengthening financial and operating profile. It reflects the progress we have made in building a disciplined, well-governed and scalable lending business. A stronger rating profile is expected to enhance lender confidence, support our liability franchise and help us pursue sustainable growth while continuing to maintain prudent risk and governance standards.
Charlie Lee, CEO of True Balance, commented on the milestone,
“This CRISIL upgrade is the result of a collective effort across our entire organization – from finance and risk to compliance and field operations. Having the disciplined execution and governance standards we’ve built over a decade in India officially recognized by the country’s leading rating agency gives us great confidence. We will use this as a springboard to further expand our footprint and grow into a trusted AI finance platform, not just in India, but across global markets.”