Fitch gives Sanghvi BBB-(ind)

Fitch Ratings said it assigned Sanghvi Foods Pvt. Ltd. a national long-term rating of Fitch BBB-(ind). The outlook is stable.

The agency said that it has taken a consolidated view on Sanghvi and Grain Milling Ltd. (Fitch BBB-(ind)/stable), led by their similar lines of business - wheat milling.

Fitch noted that as part of the same group, financial support, if required could be extended by one to the other.

The ratings reflect SanghviL's sound track record in the wheat milling business, strong experience of its promoters in the wheat processing and trading business and consistent revenue growth over FY07-FY11, excluding FY10.

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