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.