NRB Bearings gains 2% as CRISIL reaffirms credit rating to 'AA'

CRISIL Ltd., a credit rating agency has reaffirmed the credit ratings assigned to NRB Bearings’ Long-term and short-term bank facilities.

CRISIL has assigned a ‘CRISIL AA’ rating to the company’s long-term bank facilities worth Rs382 crore and has given a stable outlook for the same. While the rating agency has withdrawn the rating assigned to the company’s non-convertible debentures worth Rs30 crore as they were redeemed by the company.

Company’s commercial paper worth Rs85 crore was assigned CRISIL A1+ ratings by the agency. 

Post this development, NRB Bearings was trading at Rs117.30 up by Rs2.4 or 2.09% from its previous closing of Rs114.90 on the BSE. touched a high and low of Rs119.70 and Rs117.30 respectively.