INDIA RATINGS: Lotus Greens Cut; Jet Airways, Metroglobal Raised
(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run
NI INRATINGS , click on Display & Edit, then Set Alert Delivery.
DOWNGRADES:
- Kalyan Infratech
- Long-term bank facilities cut to BBB(SO) from BBB+ at Care Ratings
- Cites reduction in toll revenue
- Lotus Greens Constructions
- NCDs cut to BB+(SO) from BBB-(SO) at Crisil
- Cites lower-than-expected saleability of its project adversely impacting cash flows
UPGRADES:
- Jet Airways
- LT loans raised to BBB- from BB at ICRA; NCDs also revised to BBB- from BB
- Cites improved operating performance in the current yr due to reduced jet fuel prices, support from its strategic partner Etihad Airways
- Metroglobal
- LT bank facilities revised to BBB+ from BBB at Care Ratings
- Cites improvement in scale of operations
- Mold-tek Packaging
- LT fund based facilities revised to BBB+ from BBB at ICRA
- Cites increasing demand for its product, customer acquisition
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
Tickers JETIN IN (Jet Airways India Ltd)
MGLB IN (Metroglobal Ltd)
0810231D IN (Kalyan Infratech Pvt Ltd)
MTEP IN (Mold-Tek Packaging Ltd)
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