ICRA, after due consideration, has reaffirmed the long-term rating for Rashtriya Chemicals and Fertilizers’ (RCF) Bank Facilities and Non-Convertible Debenture (NCD) at ‘AA-’. The Outlook on the long-term rating has been revised to Positive from Stable. The rating agency also reaffirmed rating on Commercial Paper Programme at ‘A1+’. The aforesaid ratings will be due for surveillance any time before March 31, 2022.
RCF, a Government of India Undertaking is a leading fertilizer and chemical manufacturing company with about 80% of its equity held by the Government of India. The company manufactures Urea, Complex Fertilizers, Biofertilizers, Micronutrients, 100 percent water soluble fertilizers, soil conditioners and a wide range of Industrial Chemicals.
