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CRISIL downgrades Credit Rating of EID Parry’s bank facilities

27 Nov 2015 Evaluate

CRISIL has downgraded its Credit Rating to EID Parry's Long Term Bank Facilities and Debt Programmes to 'A+ /Stable' from 'AA-/ Stable'. The rating on the Company's short term debt and bank loan facilities has been reaffirmed at 'A1+'.

EID Parry (India) is part of the Tamil Nadu-based Rs 269 Billion Murugappa Group and the largest sugar producer in South India and is one of the top five sugar producers in the country. EID Parry, a dominant player in sugar with interests in promising areas of bio - pesticides and nutraceuticals, is one of the oldest companies in India.

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