INDIA RATINGS: Reliance Telecom Cut; Visual Percept Raised
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
- Reliance Telecom
- Long-term fund-based/non fund-based limits cut to BBB from BBB+ at ICRA
- LT fund-based/non fund-based limits of Reliance Infratel also cut to BBB from BBB+ at ICRA
- Cites steady decline in revenues, profitability of the group over last few quarters
- Shriram SEPL
- Term loans cut to D from BBB (SO) at ICRA
- Cites delay in meeting debt service obligations in a timely manner
- Vijay Nirman
- Cash credit cut to D from BB+ at ICRA
- Cites irregularities in debt servicing
UPGRADES
- Visual Percept Solar
- Term loans raised to A+ from A at ICRA
- Cites change in equity ownership of the company
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
Tickers RCOM IN (Reliance Communications Ltd)
0930395D IN (Vijay Nirman Co Pvt Ltd)
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