Financial Daily from THE HINDU group of publications
Tuesday, Sep 07, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 07, 2004 |
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Money & Banking
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Credit Rating Corporate - Short Term Instruments ICRA retains rating for BCML Our Bureau
KOLKATA: ICRA has retained the short-term rating of A1+ for an increased amount of Rs 200 crore commercial paper of the sugar major Balrampur Chini Mills Ltd (BCML). According to a press release issued by ICRA, the A1+ rating indicates "highest safety" in the short term. "The rating factors in the improved sugar price outlook in the short to medium term, BCML's ability to realise full benefits of diversification into ethanol and power from the current year onwards and its comfortable projected gearing level," the release said. Balrampur Chini is one of the largest domestic sugar manufacturers with an installed capacity of 29,000 tonnes crushed per day. Its distillery capacity is 160 kilolitres per day and power generation capacity is almost 40 MW.
More Stories on : Credit Rating | Short Term Instruments | Sugar
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