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CARE assigns ‘Al+’ rating to EID Parry’s CP

24 Jan 2019 Evaluate

Credit rating agency, CARE has assigned rating of ‘Al+’ to EID Parry’s Commercial Paper (CP) worth Rs 950 crore. The rating assigned to the CP factors in strong parentage of EID, benefits derived from being part of Murugappa group, established track record of EID in sugar industry with integrated nature of operations and geographically diversified presence of manufacturing units to an extent.

EID Parry is a significant player in Sugar with interests in promising areas of Bio Pesticides and Nutraceuticals. The company also has a significant presence in Farm Inputs business through its subsidiary, Coromandel International.

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