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ICRA has upgraded Shriram Finance's long-term rating to [ICRA]AAA; Stable and CRISIL Ratings Limited upgrading to 'Cris.
ICRA and CRISIL upgraded Shriram Finance's long-term ratings to AAA after MUFG's equity infusion.
KEY POINTS
- 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.
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