HYDERABAD, 25 May 2021: Mumbai-based credit rating agency, India Ratings & Research Private Limited (India Ratings), has Affirmed stable credit ratings to Avanti Frozen Foods Pvt. Ltd.
Avanti Feeds in a statement to the stock exchanges said, "Long-term Fund Based Working Capital Facilities INR 50 crore (includes INR 20 crore of non-fund-based limits as interchangeable limits/sub-limits of fund-based facilities) was given IND AA-/Stable and Short-term Non-Fund Based Working Facilities INR 42.79 crore was given IND A1+."
"Long-term Fund Based Working Capital Facilities INR 12 crore (includes INR 4 crore of non-fund-based limits as interchangeable limits/sub-limits of fund-based facilities) was given IND AA-/Stable and Short-term Non-Fund Based Working Limits INR 2.50 crore was given IND A1+", for its frozen foods unit, the statement added.
Telangana-based Avanti Feeds operates as a farm-to-fork model using a vertically integrated infrastructure of aquaculture farms, feed mills, hatcheries, and processing plants.
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