INDIA RATINGS: Sail Cut; Greenlam, Varun Beverages Raised
Source: BFW (Bloomberg First Word)
Tickers
SAIL IN (Steel Authority of India Ltd)
VBL IN (Varun Beverages Ltd)
998552Z IN (Dorf Ketal Chemicals India Pvt Ltd)
0958461D IN (Five-Star Business Finance Ltd)
GRLM IN (Greenlam Industries Ltd)
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UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Care Office Equipment
- Long-term bank facilities cut to BB+ from BBB- at Care
- Cites significant deterioration in operating profit margin
- Dynamic CG Equipments
- LT bank facilities cut to D from BB- at Care
- Cites ongoing delays in debt servicing
- Etco Denim
- LT bank facilities cut to D from C at Care
- Cites ongoing delays in debt servicing
- Highway Industries
- LT bank facilities cut to A from A+ at Crisil
- Cites increasing debt, lower-than-expected cash generation from operations
- Shiva Cement
- LT bank facilities cut to D from BB at Care
- Cites ongoing delay in debt servicing
- Shivom Minerals
- LT bank facilities raised to D from BB- at Care
- Cites ongoing delays in debt servicing
- Steel Authority of India
- LT bond programme cut to AA from AA+ at Care
- Cites lower-than-expected financial performance
- Tirupur Textiles
- LT bank facilities cut to C from B- at Crisil
- Cites weak liquidity due to insufficient cash accruals
- Agroh Ratlam Tollways
- LT bank facilities raised to A- from BBB(SO) at Care
- Cites healthy toll collection
- Continental Automotive
- LT bank facilities raised to BBB+ from BBB- at Crisil
- Cites improving scale of operations
- Deligentia Energy
- LT bank facilities raised to BBB from BBB- at Care
- Cites satisfactory generation track record of more than one year, timely receipt of payments from off-taker
- Eagle Infra
- LT bank facilities cut to BBB+ from BBB at Care
- Cites growth in scale of operations, improvement in profitability
- Filtra Catalysts
- LT bank facilities raised to A- from BBB+ at Crisil
- Expects to benefit from improved business risk profile of parent Dorf Ketal Chemicals
- Five-Star Business Finance
- LT bank facilities raised to BBB+ from BBB at Care
- Cites improvement in financial performance
- Galaxy Transmissions
- LT bank facilities raised to BBB- from BB+ at Crisil
- Cites steady revenue growth, better profitability
- Greenlam Industries
- LT bank facilities raised to A+ from A at Care
- Cites increase in total operating income, improvement in profitability
- Khaya Solar Projects
- Term loan raised to B- from C+ at ICRA
- Cites improvement in liquidity profile
- SLEC Infra Projects
- LT bank facilities raised to BB from BB- at Care
- Cites increase in total operating income, improved capital structure
- The Ruby Mills
- LT bank facilities raised to B from D at Crisil
- Cites timely servicing of debt
- Varun Beverages
- LT bank facilities raised to A+ from A at Crisil
- Expects group’s financial risk profile to remain strong over the medium-term
- VKS Seopur Baroda Corridor
- Find-based limits raised to BB+(SO) from BBB-(SO) at ICRA
- Cites revision in rating of parent and corporate guarantor Vinod Kumar Shukla Constructions in favor of lenders
Source: BFW (Bloomberg First Word)
Tickers
SAIL IN (Steel Authority of India Ltd)
VBL IN (Varun Beverages Ltd)
998552Z IN (Dorf Ketal Chemicals India Pvt Ltd)
0958461D IN (Five-Star Business Finance Ltd)
GRLM IN (Greenlam Industries Ltd)
To de-activate this alert, click here
UUID: 7947283