Fitch Upgrades Shriram Finance Rating to BBB-

New Delhi, Apr 14 (PTI) Fitch Ratings on Tuesday upgraded Shriram Finance Ltd's rating following a strategic investment by the firm's stronger long-term shareholder.

The long-term Foreign- and Local-Currency Issuer Default Ratings (IDRs) have been raised to 'BBB-' from 'BB+'. At the same time, Fitch has removed the SFL from Rating Watch Positive (RWP). The Outlook on the Long-Term IDRs is stable.

The ratings were placed on RWP in January 2026 following Mitsubishi UFJ Financial Group, Inc.'s agreement to acquire a 20 per cent stake in SFL through its core bank, MUFG Bank, Ltd.


The ratings upgrade follows completion of the transaction after receipt of necessary regulatory approvals.

MUFG's consolidated credit profile is significantly stronger than that of SFL, and Fitch believes that the Japanese financial group's investment is strategic and long-term.

Fitch expects mutually beneficial product development opportunities due to synergies from the partnership and some governance alignment with MUFG, Fitch Ratings said.