HALISTER1: INDIA RATINGS: Arcotech Cut; Dalmia Cement, Trident Raised

INDIA RATINGS: Arcotech Cut; Dalmia Cement, Trident Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Arcotech
    • Long-term bank facilities cut to BB from BBB at Care
    • Cites lower-than-envisaged operational performance
  • Vindhya Cereals
    • LT bank facilities cut to B from B+ at Crisil
    • Cites deterioration in liquidity
UPGRADES
  • Celebi NAS
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites consistent growth in total operating income
  • Dalmia Cement
    • NCDs raised to AA from AA- at Care
    • Cites growth in operating income, net profit
  • Gobind Sugar
    • LT bank facilities raised to BB+ from BB at Care
    • Cites healthy growth in operating income
  • IDAA Infrastructure
    • LT bank facilities raised to A from A- at Care
    • Cites ability to generate sustained cash flows amid negative toll rate revision
  • Madhav Alloys
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites steady scale-up of operations, improved profitability margins
  • Navayuga Infotech
    • LT bank facilities raised to BBB+(SO) from BBB(SO) at Care
    • Cites credit enhancement in form of a letter of comfort by Navayuga Engineering
  • Niros Ispat
    • LT bank facilities raised to BB- from B+ at Care
    • Cites improvement in financial performance
  • Rishi FIBC Solutions
    • LT bank facilities raised to A from A- at Care
    • Cites continuous growth in total operating income
  • Sagar Cements
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites satisfactory financial, operational performance
  • Soma Isolux
    • LT bank facilities raised to BB- from B+ at Care
    • Cites improvement in toll revenue
  • Trident
    • LT bank facilities raised to A from A- at Care
    • Cites increasing profitability, healthy cash flows
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ATECH IN (Arcotech Ltd)
DCB IN (Dalmia Bharat Sugar & Industries Ltd)
TRID IN (Trident Ltd/India)
CLEBI TI (Celebi Hava Servisi AS)
DBEL IN (Dalmia Bharat Ltd)

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