CRISIL upgrades Jain Resource Recycling rating to AA- with Stable outlook

CRISIL upgraded Jain Resource Recycling's long-term bank facility rating from A+ with Watch Developing to AA- with Stable outlook, removing the previous developing watch. The upgrade follows restoration of operations at Unit-II in Gummidipoondi and receipt of approvals from the Directorate of Industrial Safety and Health. CRISIL noted limited operational disruption and negligible financial impact from the earlier incident. The rating reflects strong business and financial risk profile, established position in non-ferrous metal recycling, diversified business, strong risk management, and growth from value-added products.