HALISTER1: INDIA RATINGS: Ran India Steel Cut; Signals and Systems Raised

INDIA RATINGS: Ran India Steel Cut; Signals and Systems Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Ran India Steels
    • Long-term rating cut to BB- from BB at Crisil
    • Cites relative weakening in business risk profile due to subdued operating performing during FY16
UPGRADES
  • M.G.B. Mobiles
    • Long-term rating raised to BB from BB- at Crisil
    • Cites improvement in business risk profile driven by increase in scale of operations and better working capital cycle
  • Signals and Systems India
    • Long-term rating raised to BBB- from BB+ at Crisil
    • Cites improvement in financial risk profile, supported by minimal debt dependence for funding working capital needs
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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