LT Foods rose 2.18% to Rs 58.60 after the credit ratings agency upgraded the credit ratings on the company s bank loan facilities worth Rs 1187.5 crore.
CRISIL Ratings has upgraded its rating on the bank facilities of LT Foods to CRISIL A/Stable/CRISIL A1 from CRISIL A-/Positive/CRISIL A2+ . The short-term rating on the company s bank facilities have also been upgraded from CRISIL A2+ to CRISIL A1 .
The credit ratings agency said that the upgrade reflects continuous improvement in group s business and financial risk profiles. Group achieved operating income of Rs 3499 crore in first nine months of fiscal 2021 compared to Rs 2948 crore in first nine months of fiscal 2020.