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Fitch upgrades Shriram Finance's rating on improved business profile

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Fitch Ratings has upgraded India-based Shriram Finance Ltd's (SFL) Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) to 'BB+', from 'BB', with a 'stable' outlook.
Fitch Ratings has upgraded Shriram Finance's long-term issuer default rating to 'BB' from 'BB-', citing an improved business profile and a stronger market position in India's vehicle financing sector. The upgrade reflects Shriram Finance's enhanced franchise, better asset quality, and more diversified funding sources. The agency also noted the company's robust capital position and its ability to maintain stable earnings despite economic challenges. This positive outlook is further supported by Shriram Finance's strategic initiatives and operational efficiencies, positioning it well for future growth in the competitive financial services market.

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