Credit rating agency ICRA Nepal has upgraded the long-term debt rating of MAW Hire Purchase Pvt. Ltd. to LBBB-. The agency reported that the company’s non-performing loans decreased from 4.36% in October 2024 to 1.95% in October 2025. MAW provides vehicle and mobile phone financing services and has a net worth exceeding NPR 670 million. (April 7, Kathmandu)
ICRA Nepal has improved the rating grade of MAW Hire Purchase Pvt. Ltd., a hire purchase company, citing positive changes in the company’s financial position. According to ICRA Nepal, the long-term debt rating was upgraded from LBB+ to LBBB-.
Similarly, the short-term debt rating has been raised from A4+ to A3+. ICRA noted that the company’s non-performing loan ratio declined from 4.36% in October 2024 to 1.95% in October 2025. MAW offers financing services especially for vehicles—including Yamaha, Royal Enfield, and Foton—as well as mobile phones.
ICRA also highlighted that the company’s net worth exceeds NPR 670 million, and MAW is eligible to borrow up to 10 times its net worth. Having reported consistent profits over the past five years, the company has achieved a superior rating compared to other hire purchase firms. Founded in 2011, MAW Hire Purchase’s head office is located in Biratnagar, with its primary operations center in Tripureshwor, Kathmandu.
