INDIA RATINGS: Alstom Bharat Forge Raised; Nikhil Adhesives Cut
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Here’s a roundup of debt-rating changes of Indian cos.
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- Nikhil Adhesives
- LT rating cut to BB+ from BBB- at ICRA
- Cites asset-liability mismatch due to unfavorable term loan repayment schedule and co’s weak profitability
- Alstom Bharat Forge Power
- LT rating raised to A- from BBB+ at ICRA
- Cites project execution within time and cost estimates
- Pasupati Acrylon
- LT rating raised to BB+ from BB at Crisil
- Cites expectation of improved profitability over medium- term
- Shubham Housing Development Finance
- Pass-through certificates raised to A (SO) from A-(SO) at ICRA
- Cites performance of pools, credit enhancement
- Supreme Polyweave
- LT rating raised to BBB+ from BBB at Crisil
- Cites improved business profile, marked by steady growth in volumes
Source: BFW (Bloomberg First Word)
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UUID: 7947283