Ramkrishna Forgings Limited — Credit Ratings, 20-12-2025: Credit Rating- Revision

CRISIL Ratings reaffirmed Ramkrishna Forgings' Bank Loan Facilities and Commercial Paper at 'Crisil AA-/Negative' (Long-Term) and 'Crisil A1+' (Short-Term). Ratings were removed from watch after internal control improvements. The 'Negative' outlook persists due to weaker operating efficiency, industry headwinds, and increased debt to Rs 2613 Cr, despite promoter capital infusion.