INDIA RATINGS: Balkrishna Paper Cut; Phoenix Ispat Raised
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
- Balkrishna Paper
- Long-term bank facilities cut to BB from BB+ at Crisil
- Cites moderation in liquidity
- Frontier Knitters
- LT bank facilities cut to D from BB+ at Crisil
- Cites delays in servicing term debt
UPGRADES
- M.P. Jewellers
- LT bank facilities raised to BBB from BBB- at Crisil
- Cites improvement in business risk profile, liquidity
- Phoenix Ispat
- LT bank facilities raised to BB- from B+ at Crisil
- Cites increase in revenue
- SR Marine Foods
- LT bank facilities raised to BB+ from BB at Crisil
- Cites diversification in export market
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
Tickers BPML IN (Balkrishna Paper Mills Ltd)
Topics First Word Credit Asia
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