Shriram Pistons & Rings Limited (SPRL) has received updated credit ratings from India Ratings & Research (Ind-Ra). The company's Long-Term Issuer Rating has been placed on Rating Watch with Positive Implications, indicating a potential for an upgrade. Ind-Ra has assigned an IND AA rating with Positive Implications to proposed non-convertible debentures (NCDs) of ₹10,000 million. Bank loan facilities totaling ₹4,889.2 million (reduced from ₹5,100.8 million) have had their long-term rating placed on Rating Watch with Positive Implications, while the short-term rating has been affirmed as IND A1+. Additionally, new bank loan facilities of ₹920 million have been assigned and placed on Rating Watch with Positive Implications, carrying a long-term rating of IND AA and a short-term rating of IND A1+. The company has also assigned an IND A1+ rating to its Commercial Paper (CP) programme of up to ₹10,000 million. The rating agency's actions reflect a positive outlook for SPRL's debt instruments, suggesting confidence in the company's financial stability and future prospects.