# ICRA has upgraded Shriram Finance's long-term rating to [ICRA]AAA; Stable and CRISIL Ratings Limited upgrading to 'Cris.

*business · news · 2026-04-10 · scanx.trade*

## Key points

- ICRA and CRISIL upgraded Shriram Finance's long-term ratings to AAA after MUFG's equity infusion.
- MUFG Bank acquired a 20% stake in Shriram Finance via preferential allotment worth approximately ₹39,618 crore.
- The equity infusion reduced Shriram Finance's managed gearing to about 2.5 times on a pro forma basis.
- Morgan Stanley maintained its Overweight rating, citing the AAA upgrade and improved credit profile.
- Shriram Finance's gross stage 3 assets declined to 4.50% as of December 2025, indicating asset quality improvement.

**Companies:** MUFG Bank Ltd., Shriram Finance Limited
**Countries:** Japan, India

[Read the full story on scanx.trade](https://scanx.trade/stock-market-news/companies/shriram-finance-receives-credit-rating-upgrade-to-icra-aaa-stable-from-icra-limited/37338738)

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