Ramkrishna Forgings Limited — Credit Ratings, 19-05-2026: Credit Rating- Revision

India Ratings & Research has downgraded Ramkrishna Forgings' (RKFL) long-term bank loan facilities worth INR 4,200 Cr to 'IND AA-' from 'IND AA', with a Stable outlook. Short-term ratings were affirmed at 'IND A1+'. The downgrade reflects weaker credit metrics in FY26, largely due to higher leverage from ongoing capex and moderated EBITDA margins.