Every credit rating announcement on NSE and BSE that our alert engine sent, newest first. Each one has its own page with the summary, the key figures and the original filing.
CRISIL has upgraded Kirloskar Pneumatic Company Limited's long-term rating to 'CRISIL AA (Stable)' and reaffirmed its 'CRISIL A1+' short-term rating for ₹840 Crore bank facilities. The upgrade reflects the company's improving business risk profile and strong financial position.
Trent Limited announced that CARE Ratings has re-affirmed its credit ratings for instruments totaling ₹1350.01 Crore. Ratings for Bank Facilities and NCDs are maintained at CARE AA+; Stable, while Commercial Papers and Short-Term Facilities are rated CARE A1+.
JSW Energy Limited announced that ICRA Limited assigned a long-term credit rating of 'ICRA A/Stable' to its step-down subsidiary, JSW Green Energy Eight Limited. The rating applies to the subsidiary's long-term bank facilities, reflecting the credit profile and stability of the project's financial structure.
Ganesh Consumer Products Limited has received a credit rating upgrade from CARE Ratings Limited. Ratings for ₹213 Crore in bank facilities were upgraded to 'CARE A+; Stable / CARE A1+' from 'CARE BB; Stable'. The upgrade reflects a comfortable capital structure following a successful IPO in September 2025 and satisfactory financial performance.
ICRA Limited has reaffirmed the credit ratings for Greenlam Industries Limited and its wholly owned subsidiary. Long-term facilities totaling ₹695 Crore were reaffirmed at [ICRA]AA- (Negative), while short-term facilities worth ₹345 Crore were reaffirmed at [ICRA]A1+.
SBFC Finance Limited announced that ICRA Limited has reaffirmed its '[ICRA]AA-(Stable)' credit rating for ₹2,100 Crore in long-term fund-based bank facilities. The rating reaffirmation reflects the company's stable credit profile as of May 04, 2026.
CRISIL reaffirmed the credit ratings for DMCC Speciality Chemicals Limited. The company's bank facilities of ₹139.51 Crore and fixed deposits of ₹20.00 Crore were both reaffirmed at 'CRISIL BBB+/Stable', reflecting consistent creditworthiness and stable financial outlook.
SK Minerals & Additives Limited received a credit rating upgrade from CRISIL Ratings for its Rs. 110 Crore bank facilities. The long-term rating improved to CRISIL BBB/Stable from CRISIL BBB-/Stable, and the short-term rating was upgraded to CRISIL A3+ from CRISIL A3, reflecting improved creditworthiness.
Shree Cement Limited announced that CARE Ratings Limited has reaffirmed its 'CARE A1+' credit rating for its ₹1,000 Crore Commercial Paper program. This reaffirmation reflects the company's strong credit profile and financial stability.
MAS Financial Services Ltd received credit rating updates from Acuite Ratings & Research for instruments totaling ₹7,850 Crore. Ratings for Bank Loans and Debentures were reaffirmed or assigned at 'ACUITE AA' with a stable outlook, while a ₹300 Crore Commercial Paper rating was withdrawn at the company's request.
InterGlobe Aviation Limited (IndiGo) announced that Moody's Investor Services has reaffirmed the company's credit rating at 'Baa3' with a stable outlook. The rating reflects IndiGo's dominant market position in India's airline sector and strong liquidity, despite headwinds from fuel prices and geopolitical uncertainty. Financial metrics are expected to recover by FY2028.
RNFI Services Limited has been assigned a first-time issuer credit rating of 'CARE BBB-; Stable' by Care Ratings Limited. The rating was obtained on a voluntary (suo moto) basis to demonstrate financial discipline and corporate governance. This investment-grade rating reflects the company's creditworthiness and commitment to transparency.
Execution
Normally valid for one year from the date of initial communication (April 01, 2026)
Asian Energy Services Limited announced that CRISIL Ratings has enhanced its rated bank loan facilities to ₹317.5 Crore. The agency maintained its 'Crisil BBB+/Watch Developing' and 'Crisil A2/Watch Developing' ratings for long-term and short-term facilities, respectively. The 'Watch Developing' status continues due to ongoing implications.
CRISIL Ratings has reaffirmed Swelect Energy Systems Limited's credit ratings. Bank loan facilities of ₹345 Crore maintained 'CRISIL A-/Stable' and 'CRISIL A2+' ratings, while ₹138.5 Crore in non-convertible debentures retained 'CRISIL A (CE)/Stable'. The reaffirmation reflects stable creditworthiness across the company's ₹483.5 Crore total debt portfolio.
CRISIL Ratings assigned 'CRISIL AA' to Vedanta Limited's NCDs while placing them on 'Watch Developing'. The long-term rating continues at 'CRISIL AA/Watch Developing' and short-term rating was reaffirmed at 'CRISIL A1+'. CRISIL also withdrew ratings for ₹6,089 Crore of NCDs pending transfer to Vedanta Aluminium Metal Ltd post-demerger.
CRISIL downgraded Krystal Integrated Services Limited's long-term rating to 'Crisil BBB+/Negative' and short-term rating to 'Crisil A2'. The rating action on ₹388 Crore facilities reflects stretched working capital cycles and increased group-level loans. The outlook remains Negative due to liquidity moderation.
SBFC Finance Limited received credit ratings from ICRA Limited for instruments totaling ₹600 Crore. Commercial Paper was assigned '[ICRA]A1+' and Non-Convertible Debentures were assigned '[ICRA]AA-; Stable'. These ratings reflect the company's creditworthiness and stable outlook for its debt obligations.
Viyash Scientific Limited received a credit rating upgrade from India Ratings and Research. The long-term rating for INR 35 Crore bank facilities improved to 'IND AA-' with a Stable outlook from 'IND A', while the short-term rating was upgraded to 'IND A1+' from 'IND A1'.
Avenue Supermarts Limited informed that ICRA Limited has reaffirmed the [ICRA] A1+ rating for its enhanced Commercial Paper limit of ₹800 Crore (up from ₹500 Crore). The rating reflects the company's strong credit profile and financial flexibility.
RPP Infra Projects Ltd announced that CRISIL has re-affirmed its 'Crisil BBB+/Stable' rating for long-term and 'Crisil A2' for short-term bank facilities totaling ₹557 Crore. The rating reflects the promoters' extensive industry experience and a healthy financial risk profile, despite lower-than-expected operating margins in Q3 FY26.
Aditya Infotech Ltd's subsidiary, AIL Dixon Technologies Private Limited, received credit ratings from CRISIL for ₹325 Crore in bank facilities. CRISIL assigned a 'Crisil A/Stable' rating for long-term facilities and 'Crisil A1' for short-term facilities, reflecting the entity's creditworthiness.
Anand Rathi Share and Stock Brokers Limited received new credit ratings from ICRA Limited for instruments totaling ₹100 Crore. Bank facilities were assigned [ICRA]A+ (Stable)/[ICRA]A1+ and commercial paper was assigned [ICRA]A1+. These investment-grade ratings reflect the company's established market position, comfortable capitalisation following its recent IPO, and adequate profitability trajectory.
Capital Infra Trust received a reaffirmation of its 'CARE AAA' issuer rating with a stable outlook from CARE Ratings Limited. This top-tier rating reflects the trust's strong credit profile and high degree of safety regarding timely servicing of financial obligations.
Lyka Labs Limited announced that India Ratings & Research Pvt. Ltd. has affirmed its credit rating for ₹33.28 Crore (INR 332.8 million) in bank facilities. The long-term rating is IND BBB+/Stable and the short-term rating is IND A2.
Incredible Industries Limited announced that Infomerics Valuation and Rating Private Limited has withdrawn its credit ratings for the company's ₹45.00 Crore bank facilities. The withdrawal, effective April 30, 2026, was conducted at the company's request following the receipt of No Objection Certificates from its lenders.
IndiGrid Infrastructure Trust announced the reaffirmation of its 'AAA' credit ratings with a stable outlook from ICRA, CRISIL, and India Ratings for various debt instruments. The ratings cover NCDs, term loans, and bank facilities, reflecting a high degree of safety regarding timely servicing of financial obligations and the lowest credit risk for the trust's debt exposures.
Hindustan Copper Limited received reaffirmed credit ratings from ICRA Ltd for its Rs. 2200 Crore debt facilities. The Long-term rating is [ICRA]AA+ (Stable) and the Short-term rating is [ICRA]A1+. These ratings reflect the company's strong credit profile and financial stability.
MMP Industries Limited received updated credit ratings from CRISIL for its enhanced ₹135 Crore bank facilities. Long-term rating is 'CRISIL BBB+/Stable' and short-term is 'CRISIL A2', reflecting an established market position and healthy financial risk profile. The rating migration follows the management's subsequent sharing of necessary information for review.
Savera Industries Ltd received updated credit ratings from CRISIL for its ₹14.25 Crore bank facilities. The agency assigned a 'CRISIL BBB/Stable' rating for long-term facilities and 'CRISIL A3+' for short-term facilities, reflecting the company's creditworthiness.
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