CRISIL reaffirms Heritage Foods' credit rating; stock soars ~2%

8 Apr 2022 , 02:21 PM

Heritage Foods Limited informed that CRISIL Ratings have reaffirmed the credit ratings assigned to the company’s bank facilities.

CRISIL has reaffirmed the company’s long-term rating to CRISIL A/ Positive, and has reaffirmed its short-term rating at CRISIL A1.

CRISIL reviewed total bank facilities worth Rs530.50 crore.

The rating outstanding on the above bank facilities during April 01, 2022, to April 06, 2022, was CRISIL A/Positive/CRISIL Al.

Total long-term facilities reviewed are worth Rs491 crore, while short-term facilities are valued at Rs12.50 crore.

Short-term facilities include letters of credit & bank guarantees from Kotak Mahindra Bank, HDFC Bank, and Bank of Baroda. Whereas long-term facilities include cash credit, long-term bank loan facility, and rupee term loan.

Heritage Foods is currently trading at Rs343.25 up by Rs7.4 or 2.2% from its previous closing of Rs335.85 on the BSE. It has touched intraday high and low of Rs346.25 and Rs337.65 respectively.