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Ashok Leyland's credit ratings have been reaffirmed by CARE Ratings and ICRA. Key instruments like bank facilities, NCDs, and commercial paper, totaling over ₹7,400 Cr, maintain 'CARE AA+; Stable / CARE A1+' and '[ICRA]AA+ (Stable)/[ICRA]A1+'. The Stable outlook reflects a consistent and robust credit profile.