ICRA upgrades credit rating of Shree Renuka Sugars

The rating on the company’s NCDs and Term Loan has been upgraded to ICRA A- (Stable) and ICRA A2+ on working capital demand loan.

November 03, 2021 9:20 IST | India Infoline News Service
ICRA Limited has upgraded the rating of long-term bank facilities availed by Shree Renuka Sugars Limited and Non‐Convertible Debentures issued by the company.

The rating on Non‐convertible debentures (NCDs) Rs26.50cr has been upgraded to ICRA A ‐ (Stable). The rating has been withdrawn after full payment.

The credit rating agency has also upgraded the rating on Term Loan Rs4.90cr to ICRA A ‐ (Stable). On Term Loan Rs3.10cr, the rating has been upgraded to ICRA A ‐ (Stable). The credit rating has been also upgraded on working capital demand loan Rs400cr to ICRA A2+.

At around 9.25 am, Shree Renuka Sugars Ltd was trading at Rs27.10 per piece up by Rs0.2 or 0.74% from its previous closing of Rs26.90 per piece on the BSE.

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