HALISTER1: INDIA RATINGS: Adyar Gate, Hira Power Cut; Vidya Polymer Raised

INDIA RATINGS: Adyar Gate, Hira Power Cut; Vidya Polymer Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Adyar Gate Hotels
    • Term loans cut to BBB- from BBB at ICRA
    • Cites weaker-than-anticipated performance
  • Hira Power
    • Cash credit cut to D from BB+ at ICRA
    • Cites delays observed in debt servicing
UPGRADES
  • Janatha Fish Meal
    • Cash credit raised to BBB from BBB- at ICRA
    • Cites significant revenue growth
  • Vidya Polymer
    • Fund-based limits raised to BB- from B+ at ICRA
    • Cites healthy top-line growth

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0917937D IN (Adyar Gate Hotels Ltd)
6591748Z IN (Hira Power & Steels Ltd)

Topics
Polymers

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