13-Aug-2026      17:20

Ugar Sugar Works Ltd. sees rating upgrades from CARE Edge and CARE Ratings Ltd

Ugar Sugar Works Ltd. announced rating actions and updates from both CARE Edge and CARE Ratings Ltd., primarily concerning its long-term bank facilities amounting to Rs 700.00 and fixed deposits, with CARE Edge upgrading the rating on the long-term bank facilities from BB+ to BBB- (Negative) and CARE Ratings Ltd. upgrading the rating to CARE BBB-; Stable, revising the outlook from Negative to Stable, citing improved liquidity, adequate cash accruals, and debt coverage, alongside a scale of operations growth of Rs 1490.22 crore in FY26; CARE Edge has withdrawn the rating for the fixed deposit program, while CARE Ratings Ltd. has also withdrawn the fixed deposit rating, and further noted fund-based facilities (LT-Cash Credit of Rs 566.00 and LT-Term Loans of Rs 134.00 each) maintain a CARE BBB-; Stable rating, with historical ratings including CARE BB+; Negative (May 21, 2025) and CARE BBB-; Positive (July 19, 2023), and CARE Ratings Limited has also assigned a CARE AAA rating to a long-term bank loan, while a term debt of Rs 13.5 crore was repaid in Q1FY27 and the company held Rs 3.33 crore in cash and bank balance as of March 31, 2026.

News source: Capital Market - Live News