Ind-Ra affirms credit ratings of Avanti Feeds; Stock trades flat

21 Feb 2022 , 02:52 PM

India Ratings & Research Private Limited has affirmed the credit ratings of Avanti Feeds Limited. The rating on fund-based Working Capital Facilities Rs50 crore (including Rs20 crore of non-fund-based limits as Interchangeable limits/sub-limits of fund-based facilities) has been affirmed at IND AA- /Stable.

For non-fund-based Working Capital Facilities Rs42.79 crore, IND A1+ rating was affirmed.

The credit rating agency also rated the subsidiary of the company — Avanti Frozen Foods Private Limited. On Fund Based Working Capital Facilities Rs120 crore (includes Rs40 crore of non-fund-based limits as interchangeable limits/sub-limits of fund-based facilities) IND AA-/Stable rating was affirmed. On non-fund-based Working Capital Facilities Rs25 crore IND A1+ rating has been affirmed.

At around 2.56 pm, Avanti Feeds Ltd was trading at Rs540.50 per share down by Rs2.35 or 0.43% from its previous closing of Rs542.85 per share on the BSE.