PJSC MGKL, Russia's largest pawnshop business, has made history by becoming the first Russian publicly listed company to receive a 'CareEdge B-/Stable' Global Scale Long-Term Local Currency Issuer Rating from CareEdge Global IFSC Limited in India. This rating signifies a stable outlook for the company, indicating its potential for continued growth while maintaining solid financial metrics and liquidity. MGKL has experienced substantial growth, expanding its branch network from 17 locations in 2019 to over 200 today. The company's diversification into the resale of pre-owned goods and trading of precious metals has significantly boosted its profitability, with gross margins exceeding 50% and net margins above 20%. CEO Aleksey Lazutin emphasized India's strong domestic demand and rapid digitalization as key factors for potential long-term partnerships. The rating opens new opportunities for MGKL in friendly countries like India, providing wider access to capital and avenues for business expansion. Ankit Kedia, Senior Director of CareEdge Global, noted that this rating reflects MGKL's credit profile in a global context, distinguishing it from national scale ratings.