Nitin Fire Protection Industries Limited has announced the withdrawal of its bank loan ratings by CRISIL Ratings Limited. This decision follows the settlement of all loans by the financial creditors. CRISIL Ratings, in a letter dated January 27, 2026, confirmed the withdrawal of outstanding ratings on the company's bank facilities totaling ₹450 Crore. The withdrawal encompasses both long-term and short-term ratings across various bank loan facilities, including bank guarantees, cash credit, letters of credit, and standby letters of credit from multiple banks like IDBI Bank, Bank of Baroda, Axis Bank, and Dena Bank. The company had requested the withdrawal of these ratings via a letter dated January 14, 2026, citing the settlement of its financial obligations. This development signifies that the company has successfully cleared its outstanding debts with its financial creditors, leading to the cessation of credit ratings for these facilities.
