New Delhi: S&P Global Ratings on Wednesday placed the rating of Shriram Transport Finance Co (STFC) on ‘CreditWatch’ following the announcement of a proposed merger of the IDFC group and Shriram group of companies. More From Livemint »The rating impact will also depend on “STFC’s strategic importance within the group following the merger”. On July 8, the boards of Shriram Group and IDFC entered into an exclusivity arrangement for 90 days to jointly explore an opportunity for a merger. S&P said the proposed merger requires approval from several regulatory bodies, along with approval from both groups’ shareholders. We believe the proposed merger could take up to 12 months to materialise,” the rating agency said.

Source: Mint July 12, 2017 08:15 UTC