Shriram Finance Ltd.

CRISIL has assigned its ‘AA/Stable’ rating to the Rs 1000 crore non-convertible debenture (NCD) issue of Shriram Transport Finance Company (STFCL). The rating agency has also reaffirmed AA rating to the company’s long term bank facilities, while CRISIL reaffirmed A1+ rating to the company’s short term bank facilities.

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

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.