Thiru Arooran Sugars has informed that the Credit Rating Agency, ICRA Limited has, vide their letter dated December 23,2015(received by the Company on December 28, 2015) revised the long term rating for the Line of Credit for Rs 331.51 crores (Fund based) sanctioned to the Company from (ICRA)BB (pronounced ICRA double B) with negative outlook to (ICRA)D (pronounced ICRA D); and the short term rating for the Line of Credit for Rs 7.67 crores (Non Fund based) sanctioned to the Company from (ICRA)A4 (pronounced ICRA A four) to (ICRA)D (pronounced ICRA D). The revised rating as above has been assigned on December 18, 2015.
The above information is a part of company’s filings submitted to BSE.
