HALISTER1: INDIA RATINGS: Aircel Cellular Cut, Azure Power Raised

INDIA RATINGS: Aircel Cellular Cut, Azure Power Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Aircel Cellular
    • Long-term rating cut to BBB from BBB+ at ICRA
    • Cites slowdown in revenue growth and pressures on company’s profitability
UPGRADES
  • Azure Power Infrastructure
    • Long-term rating raised to BBB+ from BBB at ICRA
    • Cites satisfactory generation and billing and collection track record of the 50 megawatt solar power plant

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1117Z IN (Haldia Petrochemicals Ltd)
0526713D IN (Kejriwal Industries Ltd)

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