India Ratings upgraded Taron Material Handling’s bank loan facilities and Axis Bank limits

Leap India Ltd announced rating actions on its subsidiary, Taron Material Handling Equipments Private Limited, and several instruments, as detailed in a press release dated October 26, 2026. India Ratings and Research upgraded the ratings on Bank Loan facilities amounting to 2,000, 2,000, and 2,000, to IND A+/Stable/IND A1+, IND A/Stable/IND A1, and IND A-/Stable/IND A2+ respectively, alongside an upgrade of the subsidiary’s Bank Loan facilities to IND A+/Stable/IND A1+; further upgrades were assigned to Fund-based working capital limits of 150 (Axis Bank) and 100 (Hongkong Shanghai Banking corporation), both carrying IND A+/Stable/IND A1+; a Term loan of 500 with Axis Bank also received an IND A+/Stable rating, as did a Proposed Term Loan of 600; no ratings were provided by India Ratings, and no other rating agencies were mentioned.