Moody's upgrades Shriram Finance's outlook to positive after big MUFG investment

Business Jan 10, 2026

Moody's just gave Shriram Finance Limited (SFL) a thumbs up, moving its outlook from stable to positive.
This follows MUFG Bank's plan to buy a 20% stake in SFL for ₹39,600 crore (about $4.4 billion)—a deal expected to wrap up by 2026 if regulators approve.

Why this matters for SFL—and what could change

Moody's thinks the investment will seriously boost SFL's capital strength and open doors to global funding, making it easier and cheaper for them to borrow money.
If SFL keeps its profits strong and risk low, more upgrades could follow.
But if loan troubles spike or funding gets shaky, Moody's might rethink its optimism.