New Delhi, May 10 -- Shriram Finance Limited (SFL), an insurance company, on Sunday announced that Moody's Ratings has upgraded the company's long-term Corporate Family Rating (CFR) to investment grade "Baa3" from "Ba1" and revised the outlook to "Stable" from "Positive", according to a company statement here.
A 'Baa3' rating is the lowest investment-grade level, which shows moderate credit risk, medium-grade quality, and potential vulnerability.
The upgradation reflects the strengthening of Shriram Finance's credit profile following the strategic equity investment by MUFG Bank. This is also due to the company's strong underlying franchise, diversified funding profile, improved financial flexibility, and prudent balance sheet management....