Chembond Material Technologies Ltd announced on July 2, 2025, a downgrade in their credit ratings by CRISIL due to the demerger of their Water Technologies and Construction Chemical business, with long-term ratings dropping to 'CRISIL BBB/Stable' from 'CRISIL BBB+' and short-term ratings to 'CRISIL A3+' from 'CRISIL A2'.