INDIA RATINGS: Oriental Pathways Raised; TRF Cut
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
- TRF Ltd.
- Long-term bank facilities cut to BBB+ from A- at Care
- Cites subdued financial performance, weak capital structure and tight liquidity position in FY16 and 1H FY17.
UPGRADES
- Oriental Pathways (Nagpur)
- Long-term bank facilities raised to B+ from D at Care
- Cites improvement in toll collection, debt servicing track record and financial support from founders
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
Tickers TRF IN (TRF Ltd)
1325297D IN (Sudiva Spinners Pvt Ltd)
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