India, Jan. 21 -- Fitch Ratings has placed India-based Shriram Finance's (SFL) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of 'BB+' and Short-Term IDR of 'B' on Rating Watch Positive (RWP). The company's medium-term note programme and debt ratings have also been placed on RWP.The RWP follows an agreement under which MUFG Bank (A/Stable), a subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG, A-/Stable), will acquire a 20% stake in SFL. Fitch believes SFL's rating could benefit from a one-notch uplift to its Standalone Credit Profile (SCP), reflecting the strategic investment from a stronger long-term shareholder, in line with Fitch's criteria.Fitch expects to resolve the RWP once the transaction is completed, wh...