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-Parakh Oils gets BB/"stable"/A4+ ratings from ICRA.

BANKING AND CREDIT NEWS-September 19, 2011--Parakh Oils gets BB/"stable"/A4+ ratings from ICRA(C)2011 M2 COMMUNICATIONS

19 September 2011 - ICRA on Monday assigned BB/"stable"/A4+ ratings to Parakh Oils Limited's bank facilities.

The agency said the ratings reflect the strong financial support the company is receiving from its owners as well as their long experience in the agro processing sector. The ratings are also boosted by the fact that Parakh Oils is among the leading wheat and pulses processors in the country and has a robust distribution network in western India, where it operates, ICRA added.

The ratings are weighed down by the company's highly leveraged capital structure and low profitability measures, ICRA said and pointed out that the agro processing industry was marked by high competition and low operating margins.

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Publication:M2 Banking & Credit News (BCN)
Date:Sep 19, 2011
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