Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Axtel Industries’ long-term bank facilities worth Rs 6.75 crore. The rating agency has also reaffirmed ‘BBB-/ A3’ rating to company’s Long/Short term Bank Facilities worth Rs 16 crore. The ratings assigned to the bank facilities of Axtel Industries (AIL) continue to derive strength from the longstanding experience of the promoters in manufacturing of food processing machines, its established operational track record of more than two decades and association with the reputed clientele that includes leading Indian and international companies engaged in FMCG business. The ratings further continue to derive strength from AIL’s moderately comfortable credit risk profile marked by lower reliance on external debt and comfortable capital structure.
AIL offers complete process plants as well as individual equipment covering requirements in the food processing value chain from raw material reception to the final stages of processing. Its products find use in various food processing industries such as confectionery, malted drinks, aqua feed, ready to eat foods, bakery & biscuits, dairy products, beverages, instant mixes, snack foods & spices, condiments & seasoning.
