RCFRashtriya Chemicals and Fertilizers Limited
Rashtriya Chemicals and Fertilizers’ ₹3,000 crore commercial paper reaffirmed at CARE A1+
- Credit rating
- Fertilisers
Rashtriya Chemicals and Fertilizers Limited has told the exchanges on 7 Oct 2026 that CARE Ratings has reaffirmed its CARE A1+ rating on commercial paper of ₹3,000 crore, with the press release received on 6 Oct 2026.
CARE says the rating draws strength from the company’s established position in the domestic fertiliser industry, its diverse products, plants running at optimum capacity, a comfortable capital structure, strong liquidity and the Government of India’s 75% equity stake. It notes the regulated nature of the industry and its reliance on the government’s subsidy budget.
Inference
The rating is the highest short-term rating and is unchanged. CARE names subsidy dependence as the main constraint.
Reference: Original filing (PDF)
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