Rashtriya Chemicals and Fertilizers Limited — Credit Ratings, 25-04-2026: Credit Rating

India Ratings & Research has affirmed Rashtriya Chemicals & Fertilizers' Non-Convertible Debentures (NCDs) at 'IND AA'/Stable for INR 1,200 Crore. This affirmation is driven by RCF's strong market position, operational efficiencies, and strategic importance for India's urea supply, supported by government backing despite planned capex and higher leverage.