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ICRA reaffirms ratings assigned to bank facilities of Parrys Sugar Industries

12 Jan 2015 Evaluate

Credit rating agency, ICRA has reaffirmed the ratings assigned to bank facilities of Parrys Sugar Industries. The credit rating agency has reaffirmed the Long term rating for the Line of Credit of Rs 180 crore at ‘BBB+’. The outlook on the long term rating is stable.

Further, the credit rating agency has also reaffirmed the Short term ratings for the Line of Credit of Rs 20 crore at ‘A2’. The aforesaid ratings are valid till November 2015.

Parrys Sugar Industries (PSIL) is a distinguished and rapidly expanding sugar producer in India. PSIL, a subsidiary of EID Parry (India), is one of the fastest growing organizations in India. It has three sugar plants with a combined crushing capacity of 11,500 tonnes of cane per day (TCD).

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