Credit Rating

Crisil Ratings has upgraded Ratnamani Metals & Tubes Limited's long-term bank loan facilities to 'Crisil AA+/Stable' from 'Crisil AA/Positive' and reaffirmed the short-term rating at 'Crisil A1+'. The upgrade reflects a stronger business risk profile driven by faster subsidiary scaling, a robust order book, market leadership in stainless steel tubes and pipes, strong operating efficiency, conservative leverage, and a net cash position.