Emerging Credit Rating Limited (ECRL) has upgraded long term credit rating to AA (Pronounced as double A) and affirmed ST-2 short term credit rating to Rangs Limited. The outlook on the rating is Stable. The ratings are consistent with ECRL’s rating methodology for this type of business. The rating is based on the audited financial statements from FY2022 to FY2025 with other relevant information up to date of rating. The rating is valid from April 01, 2026 to March 31, 2027. The ratings may be changed or revised prior to expiry, if warranted by extraordinary circumstances in the management, operations and/or performance of the entity rated.