Credit rating agency, ICRA has downgraded rating of Nuway Organic Naturals India’s long-term fund based limits and term loans to D from B. The revision in rating factors in the delay in the servicing of debt obligations by the company in the month of March 2013.
Nuway Organic Naturals India is primarily engaged in the production and sale of alcoholic products. Besides the liquor business, the company has also been engaged in trading of cosmetics, mineral water and cold-drinks manufactured by group companies and has a manufacturing unit for soaps, hand wash, and other personal care products in Baddi (Himachal Pradesh).
