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ICRA revises rating of Empee Sugars’ term loan

27 Sep 2011 Evaluate

Credit rating agency, ICRA has revised the ratings assigned to Rs 368 crore term loan of Empee Sugars and Chemicals from LB+ to D.

The revision in the ratings factors in continued instances of delays in debt servicing by the company on term loans tied for the company’s green-field sugar cum cogeneration project at Ambasamudram in Tamil Nadu.

Empee Sugars and Chemicals manufacture and sell sugar, industrial alcohol, and other allied products in India. It has two operating units at Naidupet (Nellore) in Andhrapradesh and Ambasamudram (Tirunelveli) in Tamil Nadu. It also has 8000 TCD cane crushing capacity, integrated with 60 klpd distillery and 50 MW cogeneration plant.

Empee Sugars & Chem Share Price

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