R.P.P. Infra Projects Limited — Credit Ratings, 30-07-2026: Credit Rating- Revision

CRISIL Ratings has downgraded RPP Infra Projects' long-term bank loan facilities to 'Crisil BBB/Stable' (from 'BBB+/Stable') and short-term to 'Crisil A3+' (from 'A2'). The downgrade stems from weaker operating performance, with FY26 EBITDA margins falling to 2.2% from 7.5-8.5% previously. This was driven by elevated project costs and delays in receiving escalation claims.