Credit rating agency, CARE has revised rating of Dharani Sugars & Chemicals’ long term bank facilities worth Rs 555.89 crore to ‘D’ from ‘BB+’. The rating agency has revised rating of company’s short term bank facilities worth Rs 26.79 crore to ‘D’ from ‘A4+’.
The revision in the ratings of Dharani Sugars and Chemicals (DSCL) takes into account instances of delays in servicing debt obligations on account of losses incurred in FY14 (refers to the period April 1 to March 31) and 9MFY15 (refers to the period April 1 to December 31) due to unfavourable industry scenario.
Dharani Sugars and Chemicals (DSCL) is engaged in the manufacture of sugar, industrial alcohol and co-generation of power. DSCL has three sugar mills located across Tamil Nadu. These units are located in Dharani Nagar (Tirunelveli Dist.), Sankarapuram (Vilupuram Dist.) and Polur (Thiruvannamalai Dist.).
| Company Name | CMP |
|---|---|
| Shree Renuka Sugar | 26.02 |
| Bajaj Hindusthan Sug | 18.98 |
| Triveni Engg. & Inds | 391.80 |
| Balrampur Chini Mill | 524.55 |
| Dalmia Bharat Sugar | 381.45 |
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