Emerging Credit Rating Limited (ECRL) has upgraded long term credit rating to AA- (Pronounced as double A minus) and affirmed ST-2 short term credit rating to Rancon Motor Bikes Limited (from here on referred to as ‘RMBL’). The outlook on the rating is Stable. The rating is based on audited financial statements of FY2019-2022 in addition to other relevant qualitative and quantitative information valid up to rating date.