INDIA RATINGS: Bajaj Hindusthan, GSPC Cut; HDFC Credila Raised
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
BJH IN (Bajaj Hindusthan Sugar Ltd)
HDFC IN (Housing Development Finance Corp Ltd)
GSPC IN (Gujarat State Petroleum Corp Ltd)
0990686D IN (Arora Iron & Steel Rolling Mills Pvt Ltd)
0997383D IN (Atlanta Electricals Pvt Ltd)
Topics
First Word Credit Asia
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UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Bajaj Hindusthan Sugar
- Long-term bank facilities cut to D from BB+ at Care
- Cites delay in repayment of debt obligations
- Gujarat State Petroleum
- LT bank facilities, NCDs cut to BBB+ from A+ at Care; subordinated NCDs downgraded to BBB from A
- Cites huge loss incurred by the company as per provisional financial accounts for last financial year resulting in significant erosion of net worth and deterioration in capital structure
- Indus Projects
- Fund- based facilities cut to D from BB at India Ratings
- Cites delays in debt servicing
- Anjani Tiles
- LT bank facilities raised to BBB from BBB- at Care
- Cites successful completion of first full year of operations resulting in satisfactory financial performance
- Arora Iron
- LT bank facilities raised to BBB- from BB+ at Crisil
- Expects improvement in business risk profile over the medium term
- Atlanta Electricals
- LT bank facilities raised to BBB- from BB+ at Crisil
- Cites ramp up in operations due to strong order book
- Bemco Hydraulics
- LT bank facilities raised to B from B- at Crisil
- Cites increase in scale of operations
- I G Petrochemicals
- Term loan raised to A+ from A at India Ratings
- Cites improved operating profitability, credit metrics
- HDFC Credila Financial
- NCDs, subordinate debt raised to AAA from AA+ at Care, perpetual upgraded to AA+ from AA
- Cites renaming the company as HDFC Credila, with the inclusion of HDFC brand in the name, it provides additional comfort
- Hinduja Housing Finance
- LT bank facilities raised to AA- from A+ at Care
- Cites improvement in credit profile of parent Hinduja Leyland Finance
- KEC Bikaner Sikar
- Rupee term loan raised to BBB from BBB- at India Ratings
- Cites project progress ahead of schedule
- Mahakali Foods
- LT bank facilities raised to BBB- from BB+ at Crisil
- Cites significant, sustainable improvement in profitability
- Muthoot Fincorp
- Perpetual debt raised to A from A- at Brickwork
- Cites strong branch network in rural and semi urban areas, growth in gold loan portfolio
- Precot Meridian
- LT bank facilities raised to BBB- from BB+ at Care
- Cites improvement in liquidity position with sale of assets and investments
- Tatva Chintan Pharma
- LT bank facilities raised to BBB from BBB- at Crisil
- Cites incremental capacities, better product-mix
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
BJH IN (Bajaj Hindusthan Sugar Ltd)
HDFC IN (Housing Development Finance Corp Ltd)
GSPC IN (Gujarat State Petroleum Corp Ltd)
0990686D IN (Arora Iron & Steel Rolling Mills Pvt Ltd)
0997383D IN (Atlanta Electricals Pvt Ltd)
Topics
First Word Credit Asia
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283