Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Usher Agro’s Long-term Bank Facilities worth Rs 668.97 crore and A3+ rating to Short-term Bank Facilities worth Rs 43.00 crore.
The ratings continue to derive strength from the promoters’ experience in rice milling industry coupled with UAL’s established rice and wheat distribution network. The ratings are further strengthened by its stable financial performance in FY13, increase in export sales and presence of manufacturing plants within close proximity of raw materials sources.
Usher Agro is extensively into producing fine & superfine Wheat flour (Maida), Samolina premium (Rawa/Suji), R-Aata, Whole meal Aata (Chakki Aata), and Bran (choker). These wheat products are also plugged under the well-known brand ‘Rasoi Raaja’.
