Kathmandu, Nepal - 19th April, 2026 - ICRA Nepal Limited has upgraded the credit ratings of MAW Hire Purchase Private Limited (MHPL), reflecting improved financial performance and stronger asset quality. The company’s long-term loan rating has been raised to LBBB- from LBB+, while its short-term rating has improved to A3 from A4+. The rating action highlights MHPL’s steady progress in strengthening its overall credit profile. 

The company has shown notable improvement in asset quality, supported by better recovery mechanisms and the use of technology-driven controls, particularly in its growing mobile phone financing segment. MHPL continues to maintain healthy profitability levels. Its net interest margins remain stable, while controlled operating costs have supported consistent operating profit. The company has also maintained strong provision coverage of around 96%, which adds to its financial stability and ability to absorb potential losses. Its lending

portfolio remains well-diversified and granular, with a focus on moderate loan-to-value ratios, helping to reduce risk exposure.

Being part of the established MAW Group, which has over five decades of experience in Nepal’s automobile sector, further strengthens MHPL’s position. The group’s strong market presence and partnerships with leading brands continue to support business growth and provide access to funding from financial institutions.

About MAW Hire Purchase Pvt. Ltd.
Established in 2011, MAW Hire Purchase Private Limited (MHPL) operates in line with broad guidelines of the Nepal Rastra Bank, the central bank of Nepal. Its registered office is in Biratnagar, Morang with main branch in Tripureshwor, Kathmandu, from where its operations are carried out. It was established with an entrepreneurial vision of providing easy and hassle-free hire purchase solutions to its customers.