Credit rating agency, ICRA has assigned credit rating for Rs 25 crore line of credit from banks for the proposed fund based activities of Tasty Bite Eatables. The credit rating for Rs 25 crore also includes unallocated/proposed limit of Rs 8.25 crore.
The agency has assigned Long Term Rating of ‘LBBB (pronounced L Triple B)’ with a stable outlook and Short Term Rating of ‘A2 (pronounced A Two)’. The rating was done as the lines of credit of the company are in excess of Rs 10 crore.
Tasty Bite Eatables is a manufacturer of ethnic and natural vegetarian packaged and ready to eat/serve (RTS) food products that are sold under the “Tasty Bite” brand in United States of America, Canada and Australia. It is also engaged in the manufacture of frozen formed products and sauces which are sold to domestic food chains and processed foods manufacturers such as Dominos Pizza, Vista Processed Foods and Hindustan Unilever.
