INDIA RATINGS: AB Motions Raised; Dalkan Ship Breaking Cut
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Dalkan Ship Breaking
- Long-term rating cut to BB- from BB at Crisil
- Cites weakening financial risk profile because of high leverage and decline in interest coverage ratio
- Gokaldas Exports
- LT rating cut to BBB- from BBB at ICRA
- Cites deterioration in company’s financial profile
- AB Motions
- LT rating raised to BB+ from BB at ICRA
- Cites improvement in company’s coverage metrics after refinance of its lease rental discounting facility, presence of an escrow mechanism and good operating performance on property
- Tessolve Semiconductor
- LT rating raised to BBB from BB at Crisil
- Cites strengthening of company’s financial flexibility, with majority acquisition of stake by Hero Electronix
Source: BFW (Bloomberg First Word)
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UUID: 7947283