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ICRA reaffirms long term ratings of Parrys Sugar Industries at ‘BBB+‘

21 Jun 2013 Evaluate

Credit rating agency, ICRA has reaffirmed the long term ratings of Parrys Sugar Industries at ‘BBB+‘ and short term ratings at ‘A2’. The outlook on the long term rating has been revised from Negative to Stable. The aforesaid ratings are valid till December 31, 2013.

Parrys Sugar Industries (PSIL) is a distinguished and rapidly expanding sugar producer in India. PSIL, a subsidiary of EID Parry (India), is one of the fastest growing organizations in India. It has three sugar plants with a combined crushing capacity of 11,500 tonnes of cane per day (TCD).

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