India Ratings & Research (Ind-Ra) has downgraded Dhampur Sugar Mills' long-term issuer rating and bank loan facilities to 'IND A+' from 'IND AA-', maintaining a Stable outlook.

Its short-term debt and commercial paper ratings were affirmed at 'IND A1+'. This downgrade reflects an anticipated weakening of the company's financial metrics due to increased debt from capital expenditures.