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-CRISIL sets P2 rating to packing credit of Amar Singh Chawal Wala.

M2 EQUITYBITES-July 8, 2011--CRISIL sets P2 rating to packing credit of Amar Singh Chawal Wala(C)2011 M2 COMMUNICATIONS http://www.m2.com

8 July 2011 - Rating agency CRISIL said on Thursday it had assigned a P2 rating to an INR350m (USD7.9m/EUR5.5m) packing credit of Indian rice milling and supplying company Amar Singh Chawal Wala.

The agency has also rated an INR50m cash credit of the firm at BBB+/"stable".

The ratings mirror the company's above-average financial risk profile, as well as its established market position and long track record in the basmati rice industry.

The firm's modest scale of operations partially offsets these strengths.

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Publication:M2 EquityBites (EQB)
Date:Jul 8, 2011
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