Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Kohinoor Foods’ long term bank facilities worth Rs 252.93 crore to ‘BBB-’ from ‘BB+’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 603.80 crore to ‘A3’ from ‘A4’.
The revision in ratings for the bank facilities of Kohinoor Foods (KFL) factors in the improvement in its capital structure on account of equity infusion by Al Dahra International Investment LLC, Abu Dhabi (ADII). The ratings continue to derive strength from the established brand name of ‘Kohinoor’ in the domestic and international markets, experienced and resourceful promoters and wide spread distribution network
Kohinoor Foods makes an extensive range of food products like basmati rice, ready-to-eat products, cook-in sauces, cooking pastes, spices, seasonings and frozen food.
