HALISTER1: INDIA RATINGS: The Mobile Store Cut; Tata BlueScope Raised

INDIA RATINGS: The Mobile Store Cut; Tata BlueScope Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • The Mobile Store
    • Long-term bank facilities cut to D from B+ at Care
    • Cites continuous delays in servicing of debt obligation
UPGRADES
  • Sri Durga Condev
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites healthy order book
  • Sri Ravichandra Textiles
    • LT bank facilities raised to B- from C at Crisil
    • Expects the company to continue to service its debt obligation in a timely manner
  • Tata BlueScope Steel
    • Term loan raised to A+ from A from Care
    • Cites improvement in profitability margins

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
7175029Z IN (Sri Durga Condev Pvt Ltd)
7559236Z IN (Tata Bluescope Steel Ltd)

Topics
First Word Credit Asia

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