HALISTER1: INDIA RATINGS: Thermal Systems Cut; Compuage Infocom Raised

INDIA RATINGS: Thermal Systems Cut; Compuage Infocom Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Maya Ventures
    • Long-term bank facilities cut to B- from B at Crisil
    • Expects further weakening of liquidity due to continued lower flow of advances
  • Thermal Systems (Hyderabad)
    • LT bank facilities cut to BBB- from BBB+ at Crisil
    • Cites weaker-than-earlier-expected operating performance, low debt protection metrics
UPGRADES
  • Avvas Infotech
    • LT bank facilities raised to B from B- at Crisil
    • Cites increase in profitability, improvement in working capital management
  • Compuage Infocom
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites consistent growth in scale of operations
  • G R Infraprojects
    • LT bank facilities raised to AA- from A+ at Care
    • Cites significant growth in scale of operations
  • Jaishriram Sugar
    • LT bank facilities raised to B- from C at Crisil
    • Cites improvement in liquidity due to higher cash accrual and funding support from founders

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
CPGI IN (Compuage Infocom Ltd)
8214927Z IN (G R Infraprojects Ltd)
7746364Z IN (Thermal Systems Hyderabad Pvt Ltd)

Topics
Emerging Mkts News, Analysis

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283