CRISIL revises L T Foods' bank facilities outlook to 'Positive', reaffirms rating

18 Feb 2022 , 10:05 AM

CRISIL has reaffirmed the Long Term Rating to CRISIL A/Positive (reaffirmed; Outlook revised from Stable) and Short Term Rating of CRISIL A1 of L T Foods Ltd.

On Sensex, at around 10:06 AM, L T Foods was trading at Rs66.75 apiece up by Rs0.4 or 0.6%.

CRISIL Ratings has revised its outlook on the long-term bank facilities of LT Foods Limited to ‘Positive’ from ‘Stable’ and reaffirmed the rating at ‘CRISIL A’; the short-term rating has also been reaffirmed at ‘CRISIL A1’.

According to the rationale report, the outlook revision reflects a belief that the business and financial risk profiles of the LT group should continue to improve, backed by strong market position in the Consumer Speciality Rice and Rice Food Products Business, healthy brand recall, diversified geographical reach, established marketing network and robust financial risk profile.

The ratings continue to reflect strong market position in the Consumer Speciality Rice and Rice Food Products Business, diversified geographical reach through strong brands (Daawat in the domestic market and Royal in the US market), established marketing network and improving financial risk profile.