Rane Brake Lining receives reaffirmation in credit ratings from ICRA

Rane Brake Lining announced the following rating action from ICRA for the company's debt facilities -

a. Reaffirmed - for the Rs. 165.32 crore line of credit - long term rating at [ICRA] AA- (pronounced as ICRA double A Minus). The outlook on long term rating is 'Stable';
b. Re-affirmed - short term rating bank facilities at [ICRA] A1+ (pronounced as ICRA A one plus); and
c. Withdrawn rating assigned to Rs.30 crore Commercial Paper (CP) at [ICRA]A1+ (pronounced as ICRA A One plus) on the request of the Company.

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