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Entity-Specific Rating Rationales

24 Apr 2026

Shriram Finance Limited: Rating confirmed as final for PTCs backed by commercial passenger vehicle, construction equipment and two wheeler loan receivables issued by Sansar Nov 2025 Trust

Shriram Finance Limited: Rating confirmed as final for PTCs backed by commercial passenger vehicle, construction equipment and two wheeler loan receivables issued by Sansar Nov 2025 Trust

24 Apr 2026

Shriram Finance Limited: Ratings confirmed as final for PTCs backed by commercial vehicle, construction equipment and tractor loan receivables issued by Sansar Dec 2025 Trust

Shriram Finance Limited: Ratings confirmed as final for PTCs backed by commercial vehicle, construction equipment and tractor loan receivables issued by Sansar Dec 2025 Trust

24 Apr 2026

Shriram Finance Limited: Ratings reaffirmed for PTCs issued under secured MSME loan securitisation transaction

Shriram Finance Limited: Ratings reaffirmed for PTCs issued under secured MSME loan securitisation transaction

24 Apr 2026

Shriram Finance Limited: Rating actions for PTCs issued under vehicle loan securitisation transaction

Shriram Finance Limited: Rating actions for PTCs issued under vehicle loan securitisation transaction

09 Apr 2026

Shriram Finance Limited: Rating upgraded, removed from Watch with Positive Implications and Stable outlook assigned

Shriram Finance Limited: Rating upgraded, removed from Watch with Positive Implications and Stable outlook assigned

31 Mar 2026

Shriram Finance Limited: Ratings reaffirmed for PTCs issued under five vehicle loan securitisation transactions

Shriram Finance Limited: Ratings reaffirmed for PTCs issued under five vehicle loan securitisation transactions

25 Mar 2026

Shriram Finance Limited: Ratings actions for PTCs issued under three vehicle loan securitisation transactions

Shriram Finance Limited: Ratings actions for PTCs issued under three vehicle loan securitisation transactions

16 Mar 2026

Shriram Finance Limited: Ratings reaffirmed for PTCs issued under four vehicle loan securitisation transactions

Shriram Finance Limited: Ratings reaffirmed for PTCs issued under four vehicle loan securitisation transactions

16 Mar 2026

Shriram Finance Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Sansar October 2025 II Trust

Shriram Finance Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Sansar October 2025 II Trust

10 Feb 2026

Shriram Finance Limited: Ratings withdrawn for PTCs backed by a vehicle loan securitisation transaction

Shriram Finance Limited: Ratings withdrawn for PTCs backed by a vehicle loan securitisation transaction


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Entity-Specific Credit Perspective Reports

06 May 2026

Shriram Finance Limited

Shriram Finance Limited (Non-SF)

29 Jan 2026

Shriram Finance Limited

Shriram Finance Limited (Non-SF)

13 Jan 2026

Shriram Finance Limited

Shriram Finance Limited (SF)

18 Dec 2025

Shriram Finance Limited

Shriram Finance Limited (SF)

04 Dec 2025

Shriram Finance Limited

Shriram Finance Limited (SF)

08 Jul 2025

Shriram Finance Limited

Shriram Finance Limited (SF)

25 Jun 2025

Shriram Finance Limited

Shriram Finance Limited (SF)

24 Mar 2025

Shriram Finance Limited

Shriram Finance Limited (SF)

04 Mar 2025

Shriram Finance Limited

Shriram Finance Limited (SF)

10 Feb 2025

Shriram Finance Limited

Shriram Finance Limited (Non-SF)


Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A PTCs -- -- [ICRA]AAA(SO) --
Second Loss Facility -- -- [ICRA]A+(SO) --
Series A2 PTC -- -- [ICRA]A-(SO) --
Series A1 PTC -- -- [ICRA]AAA(SO) --
Series A PTCs -- -- [ICRA]AAA(SO) --
Second Loss Facility -- -- [ICRA]A-(SO) --
Series A1 PTCs -- -- [ICRA]AAA(SO) --
NCD -- -- [ICRA]AAA(Stable) --
NCD -- -- [ICRA]AAA(Stable) --
Fixed Deposit -- -- [ICRA]AAA(Stable) --

Our Analysts

Analyst 1

Arpit Agarwal

Analyst 2

Prateek Mittal

Sector Head

Karthik Srinivasan
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