HALISTER1: INDIA RATINGS: Anant Raj, NV Distilleries Cut; ACP Raised

INDIA RATINGS: Anant Raj, NV Distilleries Cut; ACP Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Anant Raj
    • Long-term bank facilities cut to BBB from BBB+ at Care
    • Cites stagnancy in booking status from existing projects
  • Kasukurthi Sujatha
    • LT loan facilities cut to BBB- from BBB+ at Crisil
    • Cites delay in realization of receivables leading to overdrawals of cash credit limits
  • Leeway Logistics
    • LT bank facilities cut to BBB+ from A- at Care
    • Cites significant difference in profits in final audited numbers compared with provisional figures
  • NV Distilleries
    • LT bank facilities cut to D from BB- at Care
    • Cites ongoing delays in servicing debt obligations
UPGRADES
  • ACP Tollways
    • LT bank facilities raised to BBB from BBB- at Care
    • Says project’s provisional operational date is achievable
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ARCP IN (Anant Raj Ltd)
0873473D IN (Leeway Logistics Ltd)
1303423D IN (NV Distilleries Ltd)

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