Dhampur Sugar receive ratings from CARE -; Ind-Ra on various bank facilities; stock soars ~5%

Dhampur Sugar Mills Limited informed that the rating agencies CARE Ratings Limited and India Ratings & Research have affirmed the ratings assigned to company’s various bank facilities.

CARE Ratings has reaffirmed the rating assigned to the company’s Long Term Bank Facilities at ‘CARE A+’ with a Stable outlook on the same. Further, CARE reaffirmed the rating assigned to company’s Fixed Deposit at ‘CARE A+’ as well.

The company informed that its long-term bank facilities and fixed deposits have been removed from credit watch with developing implications and assigned a Stable outlook instead by CARE.

Ind-Ra has reviewed the term loans of the company and assigned an ‘IND A+’ rating with a Stable Outlook. The rating action implies Off RWE.

Ind-Ra rating for fund-based working capital Limits is reaffirmed at ‘IND A+/Stable/lND A1+’.