Ind-Ra assigns credit rating to Rossell India's facilities worth Rs225.90 crore; stock soars ~5%

India Rating and Research is a Fitch group company and has reviewed various financial instruments of Rossell to assign a suitable rating.

The Rating Agency assigned ‘IND A-/Stable/IND A2+’ rating to the company’s fund-based facilities worth Rs187 crore.

Further, it has assigned an ‘IND A2+’ rating to the company’s non-fund based facilities worth Rs4 crore.

Company’s term loan worth Rs34.90 crore has been given an ‘IND A-’ rating along with a Stable Outlook for the same.

Key Rating drivers include Established Position in Tea Business, Revenue Diversification Reduces Susceptibility to Cyclicality in the Tea Business, Higher Volumes to Cushion the Impact of Lower Tea Prices on EBITDA in FY23, Volatility in Techsys Division’s Profitability, and Comfortable Credit Metrics.