Dwarikesh Sugar Industries Ltd updates on credit rating

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ICRA Limited – the credit rating agency has vide its letter dated June 13, 2022, received & accepted on June 13, 2022, has reaffirmed the long term rating for the Bank facilities amounting to Rs.1099.99 crores at “[ICRA] A+ (Positive)” (pronounced ICRA A plus) with outlook reaffirmed to Positive. Instruments with [ICRA] A rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. The modifier + (plus) appended to the rating indicate their relative position within the rating levels concerned.

ICRA Limited – the credit rating agency has also vide its letter dated June 13, 2022 received & accepted on June 13, 2022, has reaffirmed the rating for the Commercial Papers amounting to Rs.300 crores as “[ICRA]A1+” (pronounced ICRA A one plus) indicating very strong degree of safety regarding timely payment of financial obligations. Such instruments carries lowest credit risk.