Emerging Credit Rating Limited (ECRL) has upgraded ST-2 short term credit rating to Rancon Infrastructures & Engineering Limited (from now also referred as ‘RIEL’ or “the company”). Although the concern does not have long term credit facility, ECRL has upgraded an equivalent long term entity rating to A- (Pronounced as A Minus) for Rancon Infrastructures & Engineering Limited after scrutiny of the company’s financials. The outlook on the rating is Stable. The ratings are consistent with ECRL’s methodology for this type of concern. The rating takes into account business profile, past records and trend of operating performance, stakeholders relationship, macroeconomic status, industry outlook and loan repayment history. The rating is based on audited financial statements from FY2018-FY2021 and other relevant information up to the date of rating.