HALISTER1: INDIA RATINGS: Akash Ceramics Cut; JSW Cement, Nahar Raised

INDIA RATINGS: Akash Ceramics Cut; JSW Cement, Nahar Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Akash Ceramics
    • Long-term loan facilities cut to BB- from BB at Crisil
    • Cites deterioration in business risk profile due to increase in power expenses
UPGRADES
  • Devkiran Paper
    • LT loan facilities raised to B+ from B at Crisil
    • Cites improvement in revenues, operating margins
  • JSW Cement
    • LT bank facilities raised to BBB+ from BBB at Care
    • Cites better operational performance
  • Nahar Industrial
    • LT fund-based facilities raised to A from A- at ICRA
    • Cites steady reduction in debt levels
  • Shanti Construction
    • LT loan facilities raised to BBB- from BB+ at Crisil
    • Expects financial risk profile to improve due to better gearing
  • Wind Urja
    • Term loan raised to A+(SO) from A(SO) at Care
    • Cites credit enhancement via unconditional, corporate guarantee from IL&FS Energy Development
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
OWF IN (Nahar Industrial Enterprises Ltd)
1010870D IN (Akash Ceramics Pvt Ltd)
0886730D IN (JSW Investments Pvt Ltd)

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