HALISTER1: INDIA RATINGS: Dewars Garage Cut; Mandovi, SJS Healthcare Raised

INDIA RATINGS: Dewars Garage Cut; Mandovi, SJS Healthcare Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Dewars Garage
    • Long-term bank facilities cut to B- from B at Crisil
    • Cites decline in revenue and operating profitability
  • Tamilnadu Jaibharath Mills
    • LT bank facilities cut to D from B- at Crisil
    • Cites delays in repayment of term loan
UPGRADES
  • Mandovi Motors
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites improvement in volume sales
  • Mark Alloys
    • Fund-based facility raised to BBB- from BB+ at Brickwork
    • Cites experienced promoters with ability to infuse capital as per business need
  • SJS Healthcare
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites higher revenue, operating profitability

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0931626D IN (Mandovi Motors Pvt Ltd)
TNJB IN (Tamilnadu JAI Bharat Mills)

Topics
First Word Credit Asia
India Macro News

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