S&P gives Shriram Transport notes BB-

S&P said it gave its BB- long-term issue rating to the proposed three-year two-month dollar-denominated senior secured social bond by Shriram Transport Finance Co. Ltd. The bond will be issued under Shriram's $3 billion multi-currency global medium-term note program.

“We equalize the rating on the bond with the long-term issuer credit rating on STFC. The bond is the direct and unconditional obligation of the company. It is secured and will rank equally, without any preference, with all other outstanding secured and unsubordinated obligations of the issuer,” S&P said in a press release.

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