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The Andhra Sugars Ltd. — Capital/Financing Update 2024
Sep 25, 2024
62054_rns_2024-09-25_d477de09-0965-439a-a37c-f76d4015d6f6.pdf
Capital/Financing Update
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Digitally signed by � P.V.S � VISWANADHA � P.V.S � KUMAR� DN: cn=P.V.S � VISWANADHA � VISWANAD� KUMAR, o=THE �ANDHRA � SUGARS � LIMITED, c=US� Signature �Not �Verified HA KUMAR Date: 2024.09.25 �14:38:32 +05'30'
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ICRA Limited
ICRA/The Andhra Sugars Limited/25092024/1
Date: September 25, 2024
Mr. Vishwanadha Kumar
CFO The Andhra Sugars Limited Venkatarayapuram, Tanuku West Godavari – 534 215
Dear Sir,
Re: ICRA’s Credit Rating for below mentioned Instruments of The Andhra Sugars Limited
As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has taken the following rating actions for the mentioned instruments of your company.
| Instrument | Rated Amount(Rs. crore) | Rating Action1 |
|---|---|---|
| LT - Fund based- Working Capital Facilities | 78.00 | [ICRA]A+ (Stable); reaffirmed |
| LT - Fund based - Unallocated | 22.00 | [ICRA]A+(Stable);reaffirmed |
| ST - Non-fund based-Working Capital Facilities | 47.10 | [ICRA]A1+;reaffirmed |
| ST - Non -fund based Unallocated Limits | 12.90 | [ICRA]A1+;reaffirmed |
| Total | 160.00 |
The aforesaid rating(s) will become due for surveillance within one year from the date of rating communication letter. However, ICRA reserves the right to review and/or, revise the above rating(s) at any time based on new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the rating(s). Therefore, request the lenders and investors to visit ICRA website at www.icra.in for latest rating(s) of the company.
The rating(s) are specific to the terms and conditions of the instruments as indicated to us by you, and any change in the terms or size of the same would require a review of the rating(s) by us. In case there is any change in the terms and conditions or the size of the rated instrument, the same must be brought to our notice before the instrument is used by you. In the event such changes occur after the rating(s) have been assigned by us and their use has been confirmed by you, the rating(s) would be subject to our review, following which there could be a change in the rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the instrument from that specified in this letter, would constitute an enhancement that would not be covered by or under the said Rating Agreement.
The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated instrument availed/issued by your company.
1 Complete definitions of the ratings assigned are available at www.icra.in.
Building No. 8, 2[nd] Floor, Tower A DLF Cyber City, Phase II Gurugram – 122002, Haryana
Tel.: +91.124 .4545300
CIN: L749999DL1991PLC042749
Website: www.icra.in Email: [email protected] Helpdesk: +91 9354738909
Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel.: +91.11.23357940-41
R A T I N G ● R E S E A R C H ● I N F O R M A T I O N
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You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as restriction imposed by any authority from raising funds through issuance of debt securities through electronic bidding system. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded.
We look forward to your communication and assure you of our best services.
With kind regards, Yours sincerely, For ICRA Limited
PRASHAN Digitally signed by PRASHANT VASISHT T VASISHT Date: 2024.09.25 11:03:37 +05'30'
Prashant Vasisht
Senior Vice President and Co-Group Head [email protected]
Annexure
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| Details of Bank Limits Rated by ICRA(Rated on Long-Term Scale) | Amount (Rs. crore) | Rating | Rating Assigned On |
|---|---|---|---|
| Cash Credit Limits | |||
| Union Bank of India | 40.00 | [ICRA]A+ (Stable) | September 19, 2024 |
| State Bank of India | 38.00 | [ICRA]A+ (Stable) | September 19, 2024 |
| Unallocated Limits | 22.00 | [ICRA]A+ (Stable) | September 19, 2024 |
| Total | 100.00 |
| Details of Bank Limits Rated by ICRA(Rated on Short-Term Scale) | Amount (Rs. crore) | Rating | Rating Assigned On |
|---|---|---|---|
| Letter of Credit /BankGuaranteeLimits/Forward Covers | |||
| Union Bank of India | 24.30 | [ICRA]A1+ | September 19, 2024 |
| State Bank of India | 22.80 | [ICRA]A1+ | September 19, 2024 |
| Unallocated Limits | 12.90 | [ICRA]A1+ | September 19, 2024 |
| Total | 60.00 |
ICRA Limited
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ICRA/The Andhra Sugars Limited/25092024/2
Date: September 25, 2024
Mr. Vishwanadha Kumar
CFO The Andhra Sugars Limited Venkatarayapuram, Tanuku West Godavari – 534 215
Dear Sir,
Re: ICRA’s credit rating for below instruments of The Andhra Sugars Limited
In accordance with the requirements of ICRA’s policy on withdrawal, ICRA’s Rating Committee has taken the following rating action:
| Instrument | Rated Amount(Rs. crore) | Rating Action1 |
|---|---|---|
| Fixed Deposits | 50.00 | [ICRA]A+ (Stable); Reaffirmed andWithdrawn |
| Total | 50.00 |
The press release for withdrawal of the rating is enclosed for your reference. We look forward to your communication and assure you of our best services.
We shall be glad to be associated with rating of any future borrowing programme of your company.
With kind regards, Yours sincerely, For ICRA Limited
PRASHAN Digitally signed by PRASHANT VASISHT T VASISHT Date: 2024.09.25 11:02:13 +05'30'
Prashant Vasisht Senior Vice President and Co-Group Head [email protected]
1 Complete definitions of the ratings assigned are available at www.icra.in.
Building No. 8, 2[nd] Floor, Tower A DLF Cyber City, Phase II Gurugram – 122002, Haryana
Tel.: +91.124 .4545300
CIN: L749999DL1991PLC042749
Website: www.icra.in Email: [email protected] Helpdesk: +91 9354738909
Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel.: +91.11.23357940-41
R A T I N G ● R E S E A R C H ● I N F O R M A T I O N