HALISTER1: INDIA RATINGS: Ampa Housing, RDS Project Cut; KTL Raised

INDIA RATINGS: Ampa Housing, RDS Project Cut; KTL Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Ampa Housing Development
    • Long-term bank facilities cut to BB from BBB- at Crisil
    • Cites tightly matched cash accruals as compared to its repayment obligations
  • Megha Granules
    • LT bank facilities cut to D from B at Crisil
    • Cites delays in meeting debt obligations
  • NCC Urban Infrastructure
    • LT bank facilities cut to B+ from BB- at Crisil
    • Cites increasing pressure on cash flow due to low residential project sales
  • RDS Project
    • LT bank facilities cut to BBB- from BBB at Crisil
    • Cites stretch in working capital cycle coupled with pressure on liquidity
  • Shri Hari Forging
    • LT bank facilities cut to D from B at Crisil
    • Cites delay in repayment of term debt due to weak liquidity
  • Texmaco Hi-Tech
    • LT bank facilities cut to BBB- from BBB at Crisil
    • Cites weakening of credit risk profile following a delay in achieving break-even
UPGRADES
  • KTL
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites healthy business risk profile
  • R.B.Agarwalla
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites increased geographical, product diversification
  • Seshaasai Business Forms
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites healthy demand prospects for security solutions

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0997382D IN (KTL Pvt Ltd)
8159390Z IN (NCC Urban Infrastructure Ltd)
0489192D IN (RB Agarwalla & Co)
0289184D IN (RDS Project Ltd)
1082811D IN (Seshaasai Business Forms Pvt Ltd)

Topics
Emerging Mkts News, Analysis

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