Grill Ring?
Are you referring to the large grill frame on the front, about a yard wide? Or only to the center star?
Anyway, both are originally chromed, not painted.
The center star is certainly worth to be rechromed if not broken or heavily pitted.
The grille surround is worth to be recovered as well but this depends on its condition.
The grille frame is made of thin brass; if it is heavily bent or dented a new one might be the only choice. Both parts a pricey.
Maybe it's already sufficient just to remove the paint by chemical stripping. It's worth to try that first.
Good luck,
Achim