Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Kriti Nutrients’ long term bank facilities worth Rs 47.68 crore to ‘BBB’ from ‘BBB-’. The rating agency has also revised rating of company’s Long/Short-term bank facilities worth Rs 191.70 crore to ‘BBB/A3+’ from ‘BBB-/A3’.
The revision in the ratings of Kriti Nutrients (KNL) takes into account gradual improvement in its profitability and overall gearing with increased thrust on branded refined soya oil and other value added soya products. The ratings continue to be underpinned by the established operations of KNL with strong brand and marketing network in Central India.
Kriti Nutrients is engaged in the extraction of soya oil and soya de-oiled cake (DOC), refining of crude soya oil and manufacturing of other soya products.
