ICRA has withdrawn the [ICRA] AA (Stable) rating on Rashtriya Chemicals and Fertilizers Limited’s ₹500 crore Non-Convertible Debentures (NCDs) effective January 15, 2026. This decision follows the full redemption of these instruments, confirming that there is no outstanding amount remaining against the rated debentures. The withdrawal was formally announced on January 16, 2026.
ICRA Rating Withdrawal
Rashtriya Chemicals and Fertilizers Limited (RCF) has announced that ICRA has withdrawn its rating on the company’s Non-Convertible Debentures. According to a notification dated January 16, 2026, the credit rating agency ICRA withdrew the [ICRA] AA (Stable) rating on the ₹500 crore Non-Convertible Debentures (NCDs) with effect from January 15, 2026.
Reason for Withdrawal
The rating withdrawal is due to the complete redemption of the debenture instruments. As of January 15, 2026, all ₹500 crore worth of Non-Convertible Debentures have been fully redeemed and there is no outstanding amount associated with these rated instruments. The debentures carried the ISIN code INE027A07012.
Source: BSE
