CRISIL has assigned its 'AAA (SO)' rating to the pass-through certificates (PTCs) issued by Sansar Trust Feb 2014-II and credit opinion of 'BBB (SO) Equivalent' to the second loss facility. The pool is backed by vehicle loan receivables originated by Shriram Transport Finance Company (STFCL; rated 'AA/FAA+/Stable/A1+').

The rating is based on the credit quality of the pool cash flows, STFCL's origination and servicing capabilities, the transaction's credit enhancement and payment mechanism, and the soundness of the transaction's legal structure.

The receivables arise from a pool of loans for new and used commercial vehicles (CVs) and passenger vehicles originated by STFCL. The transaction has a 'par' structure. STFCL will assign the pool to Sansar Trust Feb 2014-II, settled by IDBI Trusteeship Services, which will issue PTCs to investors. The PTCs receive support from the stipulated cash collateral and the excess interest spread.

Shares of the company gained Rs 17.95, or 2.45%, to settle at Rs 750. The total volume of shares traded was 5,381 at the BSE (Monday).