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Infomerics assigns 'BB+/Stable' rating on Rana Sugars' bank facilities

the ratings assigned to the bank facilities of Rana Sugars takes into account the experienced promoters with long track record, integrated nature of operations.

July 29, 2021 1:25 IST | India Infoline News Service
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Rana Sugars has informed that based on Infomerics credit ratings, the Company has been assigned 'BB+/Stable' on bank facilities.

'IVR BB+' with Stable outlook rating is assigned to long term facilities while 'IVR A4' is assigned to short term facilities.

According to the rationale, the ratings assigned to the bank facilities of Rana Sugars takes into account the experienced promoters with long track record, integrated nature of operations, PPA providing revenue visibility, healthy financial risk profile & government support to the sugar industry.

These are partially offset by working capital intensive operations, cyclicality in the sugar business, exposed to vagaries of nature, exposure to risk related to government regulations.

At around 1:25 PM, Rana Sugars was trading at Rs31.95 apiece up by Rs0.75 or 2.4% on Sensex.

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