Thiru Arooran Sugars gets revision in credit ratings

From ICRA

Thiru Arooran Sugars announced that the Credit Rating Agency, ICRA has, vide their letter dated 23 December 2015 (received by the Company on 28 December 2015) revised

1. the long term rating for the Line of Credit for Rs.331.51 crore (Fund based) sanctioned to the Company from (ICRA)BB (pronounced ICRA double B) with negative outlook to (ICRA)D (pronounced ICRA D); and

2. the short term rating for the Line of Credit for Rs.7.67 crore (Non Fund based) sanctioned to the Company from (ICRA)A4 (pronounced ICRA A four) to (ICRA)D (pronounced ICRA D). The revised rating as above has been assigned on 18 December 2015.

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