Fitch stabilizes Shriram Transport view

Fitch Ratings has revised Shriram Transport Finance Co. Ltd.'s outlook to stable from negative and affirmed the BB issuer ratings.

“We have revised the outlook to stable as we believe STFC's credit profile is likely to remain resilient, despite lingering uncertainty in the macroeconomic outlook due to the Covid-19 pandemic. STFC's operating metrics have improved since the second half of fiscal year ended March 2021 (FY21) and it has maintained steady funding access, which we expect will be sustained. The company has strengthened its capital adequacy, liquidity and provisioning buffers over the past year, further improving its defenses against credit impairment and refinancing risk,” Fitch said in a press release.

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