This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Shriram Finance Upgraded to BB+ by Fitch
May 14, 2025
Shriram Finance was upgraded to BB+ from BB, by Fitch. This revision reflects Fitch’s assessment of Shriram’s consistent improvement in funding diversity, risk management, portfolio quality, and profitability in recent years. Besides, it considered the company’s steady performance post-merger with Shriram City Union Finance Limited (SCUF) in 2022. Fitch also considered India’s strong economic growth potential, which is expected to support non-bank financial institutions’ (NBFIs) business and profitability. The upgrade acknowledges Shriram Finance’s enhanced risk profile, supported by tighter loan management and risk controls, which have contributed to improved asset quality, with the non-performing loan (NPL) ratio declining to 4.6% by the end of fiscal year 2025, and a broadly stable debt-to-tangible equity ratio of 4.6x in FY2025. The company’s funding channels have also diversified, with a greater share of deposit funding and consistent access to various debt instruments.
Its 6.15% 2028s traded stable at 99.02, yielding 6.52%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.