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India Ratings upgrades credit rating of Prabhat Dairy

By Religare

Prabhat Dairy Ltd, an integrated milk and dairy products company, said the credit rating and research company, India Ratings and Research Pvt Ltd, has upgraded the long term issuer credit rating of the company to 'IND A' with Stable outlook from 'IND BBB+' having outlook stable.

The credit rating agency has revised and upgraded the company's rating after taking a consolidated view of Prabhat Group comprising of the company and its subsidiary i.e. Sunfresh Agro Industries Pvt Ltd, Prabhat Dairy Ltd said in a filing to the Bombay Stock Exchange.


On Monday, its equity shares are listed on the Bombay Stock Exchange and admitted to dealings on the exchange in the list of 'B' group securities.

The company produces fresh, dry, frozen, cultured, and fermented dairy products, including pasteurized milk, flavoured milk, sweetened condensed milk, ultra-pasteurised or ultra-high temperature milk, yoghurt, dairy whitener.

Meanwhile, shares of the company were trading at Rs 115.95 apiece, down 0.34 per cent, from previous close on BSE at 13:07 hours.

Story first published: Tuesday, September 22, 2015, 23:00 [IST]
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