HALISTER1: INDIA RATINGS: Muthoottu Mini Cut; Amba Shakti, Sriam Raised

INDIA RATINGS: Muthoottu Mini Cut; Amba Shakti, Sriam Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • JITF Commodity
    • Revolving term loan cut to BBB- from BBB at Brickwork
    • Cites change in ownership
  • Muthoottu Mini Financiers
    • Bank loans, NCDs cut to BBB- from BBB at India Ratings
    • Cites concerns about INR2b non-core investment made in a real estate property
UPGRADES
  • Amba Shakti Udyog
    • Long-term bank facilities raised to BB+ from BB at Care
    • Cites stabilization of operations
  • Sriam Labs
    • LT bank facilities raised to AA-(SO) from A+(SO) at Care
    • Cites revision in rating of guarantor Laurus Labs

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0954893D IN (Muthoottu Mini Financiers Ltd)
1440288D IN (Sriam Labs Pvt Ltd)

Topics
First Word Credit Asia

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