CARE reaffirms A1+ rating to Bajaj Hindusthan’s commercial paper programme

Credit rating agency, CARE has reaffirmed A1+ rating to Bajaj Hindusthan’s commercial paper programme worth Rs 200 crore. The company has received the said rating on the back of its long operational track record and established position in the sugar industry.

Moreover, the operational synergies arising out of fully-integrated manufacturing set-up comprising sugar, distillery and power divisions and multi-location manufacturing facilities in proximity to sugarcane-growing areas of Uttar Pradesh also helps the company to achieve the said rating.

Bajaj Hindusthan, a part of the 'Bajaj Group’, is one the largest sugar manufacturing companies in Asia and also the largest industrial alcohol manufacturers in India. It is engaged in sugar manufacturing, distillery operations and bagasse-based power generation. It has 16 sugar mills with a cane crushing capacity of 1.36 lakh tonne per day.