Shriram Finance Ltd.

Credit rating agency, CRISIL has assigned its ‘AA/Stable’ rating to the Rs 750 crore non-convertible Debenture (NCD) issue of Shriram Transport Finance Company (STFCL). Further, the rating agency has reaffirmed its ratings on the company’s bank facilities and other debt instruments at ‘AA/FAA+/Stable/ A1+’.

The company has received the said rating on the back of its strong market position in the pre-owned commercial vehicle (CV) financing segment, healthy capitalisation, comfortable earnings profile, and adequate asset quality.

Recently, CARE assigned its ‘AA+’ rating to the company’s Non-convertible debentures (NCD) worth Rs 1000 crore.

Shriram Transport Finance is the 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.