Shree Renuka Sugars receives ratings action from India Ratings and Research

Shree Renuka Sugars announced that India Ratings and Research (Ind-Ra) has upgraded the company's Long-Term Issuer Rating to 'IND A-' from 'IND BBB+' while resolving the Rating Watch Positive (RWP). The Outlook is Positive. The instrument-wise rating actions are as follows:

Term loan - IND A-/Positive (upgraded, Off RWP)
Short term loan - IND A1 (upgraded, Off RWP)
Fund based limit - Withdrawn
Non fund based limit - Withdrawn
Working capital limit - IND A-/Positive/ IND A1 (assigned)
Non-convertible debentures - IND A-/ Positive (upgraded, Off RWP)
Proposed working capital limit - IND A-/ Positive/ IND A1 (assigned)

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