CREDIT RATING REPORT ON Akij Food & Beverage Ltd.
REPORT: RR/848/11
This is a credit rating report as per the provisions of the Credit Rating Companies Rules 1996. CRISL’s entity rating is valid one year for long-term rating and 6 months for short term rating. CRISL’s Bank loan rating (blr) is valid one year for long term facilities and up-to 365 days (according to tenure of short term facilities) for short term facilities. After the above periods, these ratings will not carry any validity unless the entity goes for surveillance. CRISL followed Corporate Rating Methodology published in CRISL website www.crislbd.com

Address: CRISL Nakshi Homes (4th & 5th Floor) 6/1A, Segunbagicha, Dhaka-1000 Tel: 7173700-1 Fax: 88-02-9565783 Email: crisldhk@crislbd.com Analysts:

Entity Rating Outlook Bank Facilities Ratings: Bank/FIs IBBL Date of Rating Declaration

Long Term APositive Mode of Exposures (TK in Million) TLO* of Tk.750.16 WCL** of Tk. 83.66 May 26, 2011

Short Term ST-3

Asif Imtiaz Ahmed aiahmed@crislbd..com Asiful Huq asif@crislbd.com
Entity Rating Long Term: AShort Term: ST-3 Outlook: Positive

Ratings blr Ablr A-

*TLO- Term Loan Outstanding **WCL Working Capital Limit ** CRISL rated the short term facilities under long term scale in view of their revolving nature

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RATIONALE

AKIJ FOOD & BEVERAGE LTD.

CRISL has assigned ‘A-’ (pronounced as single A minus) rating in the Long Term and ‘ST-3’ rating in the Short Term to Akij Food and Beverage Limited (hereinafter called ‘AFBL’) on the basis of its audited financials upto June 30, 2010 and other relevant quantitative and qualitative information upto the date of rating. . The above ratings have been done after due consideration of its fundamentals such as equity-based capital structure, good production facilities, good debt servicing capacity, strong group support, good loan repayment