Context:
Fitch Ratings upgraded Shriram Finance Ltd.’s (SFL) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) from ‘BB’ to ‘BB+’, with a ‘Stable’ outlook, reflecting the company’s consistent improvements across key operational and financial parameters.
Key Drivers of the Upgrade
- Funding Diversity
- Risk Management
- Portfolio Quality
- Profitability
Ratings Details
- New Ratings:
- Long-Term Foreign-Currency IDR: ‘BB+’ (Stable)
- Long-Term Local-Currency IDR: ‘BB+’ (Stable)
- The upgrade moves SFL one notch closer to investment grade, though it remains in the speculative category.
TH
