HALISTER1: INDIA RATINGS: Angelique, Birla Cut; ALD Automotive Raised

INDIA RATINGS: Angelique, Birla Cut; ALD Automotive Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Angelique International
    • Long-term loan facilities cut to BBB+ from A- at Crisil
    • Cites higher-than-expected stretch in working capital cycle
  • Bimla Maru Fashions
    • LT loan facilities cut to C from BB- at Crisil
    • Cites delays in repayment of business loans
  • Birla Corp.
    • LT bank facilities cut to AA from AA+ at Care; NCDs also cut to AA from AA+
    • Cites impact of acquisition of entire equity in Reliance Cement Co.
UPGRADES
  • ALD Automotive
    • LT bank lines raised to AAA (SO) from AA+ (SO) at ICRA
    • Cites credit enhancement by way of SocGen guarantee
  • Bharat Vanijya Eastern
    • LT loan facilities raised to BBB from BBB- at Crisil
    • Expects financial-risk profile to remain healthy
  • Keerthi Industries
    • LT bank facilities raised to BBB- from BB- at Care
    • Cites healthy growth in total operating income, improvement in profitability margins
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BCORP IN (Birla Corp Ltd)
7566308Z IN (Angelique International Ltd)
9155931Z IN (Bimla Maru Fashions Pvt Ltd)
KRIL IN (Keerthi Industries Ltd)

To de-activate this alert, click here

UUID: 7947283