Credit rating agency, CARE has revised rating of Himalya International’s long term bank facilities worth Rs 131.28 crore to ‘D’ from ‘BBB-’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 7 lakh to ‘D’ from ‘A3’. The revision in the rating factors in recent delays in debt servicing by Himalya International (HIL).
Himalaya International operates as a frozen food company in India. The company manufactures and sells mushrooms, vegetables, cheese, yogurts, appetizers, snacks, and sweets, as well as baby potatoes and buffalo cheese.
