INDIA RATINGS: Lucknow Sitapur Cut; Anthem Biosciences Raised
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
- Lucknow Sitapur Expressways
- Long-term rating cut to D from BB at ICRA
- Cites delays in debt servicing
- Siddhi Ganesh Metal
- Long-term rating cut to B+ from BB- at Crisil
- Cites stretched working capital cycle, low profitability and below-avg financial risk profile
UPGRADES
- Anthem Biosciences
- Long-term rating raised to A- from BBB at ICRA
- Cites improvement in company’s financial profile as reflected in expansion in margins, improved profitability and stregthening of coverage indicators
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HALISTER1Source: BFW (Bloomberg First Word)
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