HALISTER1: INDIA RATINGS: Aquarelle, Rochem Cut; Adani Wilmar Raised

INDIA RATINGS: Aquarelle, Rochem Cut; Adani Wilmar Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Aquarelle India
    • Long-term bank facilities cut to BBB+ from A- at Care
    • Cites drop in profitability
  • Konstelec Engineers
    • LT loan facilities cut to BBB- from BBB at Crisil
    • Cites substantial fall in revenue, profitability
  • P G Mercantile
    • LT loan facilities cut to D from BB at Crisil
    • Cites delays of over 30 consecutive days in servicing letter of credit obligation
  • Rochem Separation
    • LT loan facilities cut to BBB- from BBB at Crisil
    • Cites lower-than-anticipated profitability
UPGRADES
  • Adani Wilmar
    • LT bank facilities raised to A from A- at Care
    • Cites growth in scale of operations, improvement in profitability
  • Aditya Birla Retail
    • LT loans raised to A- from BBB+ at ICRA
    • Cites improvement in operating performance
  • Vardhman Pharma
    • LT bank facilities raised to A-(SO) from BBB+(SO) at Care
    • Cites credit enhancement via unconditional, corporate guarantee from Keimed
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
6596700Z IN (Adani Wilmar Ltd)
214046Z IN (Aditya Birla Group)
4088148Z MP (Aquarelle International Ltd)
3500069Z IN (Concord Enviro Systems Pvt Ltd)

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