Rane (Madras) Limited — Credit Ratings, 02-07-2025: Credit Rating

ICRA Limited has withdrawn its credit ratings for bank facilities worth Rs.165.32 crore of Rane Brake Lining Limited following its merger into Rane (Madras) Limited, resulting in the cessation of RBL as a separate legal entity. The withdrawn ratings included a long-term [ICRA]AA- and short-term [ICRA]A1+, both previously on Rating Watch with Developing Implications. This action reflects the consolidation of credit assessments under the merged entity, which maintains existing credit ratings from CRISIL for its bank facilities. The withdrawal is procedural and does not indicate deterioration in credit quality, preserving investor confidence and the company’s access to borrowing on favorable terms.