Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Shriram Transport Finance Company’s Non convertible Debenture (NCD) worth Rs 10,850 crore. The rating agency has also reaffirmed ‘AA+’ ratings to company’s subordinated Debenture worth Rs 2750 crore.
The company has received the said rating on the back of its leadership position and almost three decades of experience in the pre-owned commercial vehicle (CV) financing segment, comfortable capital adequacy, overall healthy profitability parameters, strong resource raising capabilities, and proactive and experienced management team.
Shriram Transport Finance is the flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC. The company was with an objective to provide hire purchase and lease finance for the medium and heavy commercial vehicles to individual truck operators.
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