INDIA RATINGS: Kirtilal M Shah, Piyush Colonizer Downgraded
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
- Kirtilal M Shah
- Fund-based limits cut to B+ from BB- at ICRA
- Cites decline in operating income due to slowdown in demand from key export destinations
- Piyush Colonizer
- Long-term fund-based limits cut to D from BB at ICRA
- Cites delay in servicing debt obligations due to stretched liquidity position
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HALISTER1Source: BFW (Bloomberg First Word)
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