Simplex Castings Ltd has received an upgrade in its credit ratings from Infomerics Valuation and Rating Limited.

The long-term bank facilities have been upgraded to IVR BBB with a stable outlook from the previous rating of IVR BB+, while the short-term bank facilities have been upgraded to IVR A3+ from IVR A4+. This rating action covers a total facility size of 72.00 Crore.

The upward revision reflects improved operational and financial performance, enhancing the company's credit profile and potentially easing future borrowing terms for stakeholders.