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S&P revises outlook on India's Shriram Transport Finance to negative

S&P Global Ratings revised the outlook on India's Shriram Transport Finance Co. Ltd. to negative from stable and affirmed its long- and short-term issuer credit ratings BB+ and B, respectively.

The rating agency said Dec. 16 that the outlook revision reflects the increased risk of weakening in the company's asset quality, which could also affect the availability of credit to the company over the next 12 months or so. The negative outlook also underscores a one-in-three chance that Shriram Transport Finance's asset quality will deteriorate over the next 12 months or so, which can lead to a ratings downgrade.

The agency said the company's sound business position and capitalization will continue to underpin its ratings.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.The original S&P Global Ratings document referred to in this news brief can be found here.