KCP Sugar and Industries Corporation Limited has informed the Exchange about Credit Rating
KCPSUGIND · price
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Awaiting price reaction for this filing.
ICRA Limited has withdrawn the credit rating assigned to KCP Sugar's Fixed Deposit Programme at the company's own request. The withdrawal applies to a rated amount of Rs. 89.27 crores, which previously carried a rating of [ICRA]A2+, indicating adequate safety for short-term fixed deposits. The company has shared the ICRA communication with the stock exchanges as required under SEBI listing regulations. This is an administrative action initiated by the company, not a rating action triggered by any deterioration in credit quality.
This is a neutral event for shareholders. The withdrawal was requested by the company itself, and the previous rating of A2+ suggests the company was in reasonable standing. Investors should note that the fixed deposit programme of Rs. 89.27 crores will no longer carry an external credit rating going forward.