S&P assigns BB+ to Shriram Transport Finance bonds

Standard & Poor’s has assigned BB+ rating to this rupee denominated bonds of Shriram Transport Finance Company. The international rating agency has rated the senior secured notes due in 2020 and which are to be issued on January 18, 2017. 
Sriram Tansport Finance has announced that with respect to the issue of Rs 175 crore senior secured notes due 2020 payable in US dollars with coupon of 8.25 per cent p.a., these are set to be consolidated and form a single series with Rs 475 crore of the same coupon rate. 

Shriram Transport Finance is an non-banking finance company engaged in the business of asset financing. The company provides finance for buying commercial vehicles and other loans with services of lending and deposits. The Company is also engaged in pre-owned commercial vehicle (CV) financing business and has a network of nearly 850 branches. The STFC stock is likely to be in focus on January 18.