Shriram Finance Ltd.

Credit rating agency, CRISIL has assigned its ‘AA/Stable’ rating to the Rs 1000 crore non-convertible debenture (NCD) issue of Shriram Transport Finance Company. The rating agency has also reaffirmed its ratings on the company’s bank facilities and other debt instruments at ‘AA/FAA+/Stable/ A1+’.

The ratings continue to reflect the company’s strong market position in the pre-owned commercial vehicle (CV) financing segment, healthy capitalisation, and comfortable earnings profile.

Shriram Transport Finance is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC. The company was with an objective to provide hire purchase and lease finance for the medium and heavy commercial vehicles to individual truck operators.