Crisil assigns AA+ rtg, watch positive to Shriram Fin's fixed deposit plan
This story was originally published at 13:30 IST on 14 January 2026
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--Crisil gives AA+' to Shriram Finance's INR 800-bln fixed deposit programme
MUMBAI – Crisil Ratings Ltd. Wednesday assigned an AA+ rating to Shriram Finance Ltd.'s INR 800-billion fixed deposit programme, the company said in a filing. The rating agency has placed the company's fixed deposit programme on 'Rating Watch with Positive Implications.'
The rating company reaffirmed its A1+ short-term rating on Shriram Finance and its INR 105-billion outstanding commercial paper. It maintained the AA+ rating on Shriram Finance's longer-term debt instruments, in line with the non-bank finance company's long-term rating. Crisil withdrew its rating on INR 542 million of the finance company's subordinated debt.
Shriram Finance's market leadership in the overall non-banking finance company's ecosystem, strong capitalisation, and healthy earnings profile were the key drivers for the assigned ratings, the rating agency said. However, the rating agency will monitor the finance company's ability to maintain its position among its peers.
The agency also remains concerned about the finance company's asset quality, while it scales up its portfolio. Moreover, Shriram Finance's ability to raise resources through traditional routes at optimal costs will be closely monitored by the rating agency.
Ratings agencies have been positive on Shriram Finance after it entered an agreement with MUFG Bank Ltd. for an investment of INR 396.18 billion through preferential issues of equity shares. Following the investment, the Japan-based bank will hold a total of 20% stake in the non-bank lender and will have the right to nominate up to two non-independent directors on the board of the finance company on a fully diluted basis.
In the September quarter, Shriram Finance had posted net profit of INR 23.07 billion, up 11% on year. At 1317 IST, shares of the company traded at INR 982.55 on the National Stock Exchange, up 0.3% from Tuesday. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Janwee Prajapati
Edited by Avishek Dutta
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