Shriram Finance Limited has received a significant credit rating update from ICRA Limited. ICRA has assigned an [ICRA]AAA; Stable rating to Shriram Finance’s ₹5,000 crore Non-Convertible Debenture Programme. Additionally, the ratings for the company’s existing instruments, including a ₹2,975 crore Non-Convertible Debenture Programme and the Fixed Deposit Programme, have been reaffirmed at [ICRA]AAA; Stable. This reflects a strong credit profile and stable outlook for the company.
ICRA Assigns Strong Credit Rating to Shriram Finance’s NCD Program
Shriram Finance Limited announced today that ICRA Limited has assigned a credit rating of [ICRA]AAA; Stable to its proposed ₹5,000 crore Non-Convertible Debenture (NCD) Programme. This signifies the highest level of creditworthiness and a stable outlook for this new debt instrument.
Reaffirmation of Existing Ratings
In addition to the new assignment, ICRA has also reaffirmed the existing ratings for Shriram Finance’s other debt facilities. The company’s ₹2,975 crore Non-Convertible Debenture Programme and its Fixed Deposit Programme have both been reaffirmed at [ICRA]AAA; Stable. These reaffirmations underscore the consistent strength and stability of Shriram Finance’s credit profile.
Financial Health and Outlook
The [ICRA]AAA rating indicates a very low expectation of credit risk and a strong capacity to meet financial commitments. The ‘Stable’ outlook suggests that ICRA does not anticipate any significant changes to the rating in the near to medium term. This strong rating is attributed to Shriram Finance’s leadership position in the preowned commercial vehicle financing segment, robust capitalisation, and healthy profitability, as detailed in ICRA’s rationale.
Disclosure Compliance
This intimation is made in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable SEBI regulations. The detailed rating rationale from ICRA Limited is enclosed with this disclosure.
Source: BSE
