From India Ratings and Research
Shriram Transport Finance Company announced that India Ratings and Research (Ind-Ra) has placed the Company's Long-Term Issuer Rating of 'IND AA+' on Rating Watch Negative (RWN). The Outlook was Stable. The Short-term Rating has been affirmed at 'IND A1+'. The instrument-wise rating actions are given below -Non convertible debentures - IND AA+/RNW (revised from IND AA+/Stable)
Bank loans - IND AA+/RWN/IND A1+ (revised from IND AA+/Stable/IND A1+)
Subordinated debt - IND AA+/RWN (revised from IND AA+/Stable/IND)
Short-term debt/ commercial paper (CP) programme - IND A1+ (reaffirmed)
Term deposit - IND tAA+/RWN (revised from IND tAA+/Stable)
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