Credit rating agency, Crisil has assigned its ‘AAA/Stable’ and ‘A1+’ ratings to Nestle India’s Rs 1800 crore long-term loans and Rs 700 crore short term debt (STD) programme respectively. The existing ratings of ‘AAA/Stable’ relating to Nestle India’s Rs 50 crore non-convertible debenture (NCD) programme and ‘A1+’ relating to Rs 35 crore STD programmes have been withdrawn, at the request of the company; there are no outstanding amounts against these facilities.
The ratings reflect the company’s strong business risk profile, as reflected in its leading market position in most product categories with well-established brands, and a diversified revenue profile, supported by its extensive distribution network.
Nestle India is a leading player in the Indian FMCG sector, and is among the two largest entities for most of its product categories: milk products and nutrition, beverages, prepared dishes and cooking aids, and chocolate and confectionery.
