HALISTER1: INDIA RATINGS: Ardent Steel, Zicom Cut; Symphony Vyapaar Raised

INDIA RATINGS: Ardent Steel, Zicom Cut; Symphony Vyapaar 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
  • Ardent Steel
    • Long-term bank facilities cut to D from BBB- at Care
    • Cites ongoing delays/defaults in debt servicing
  • Zicom Saas
    • LT bank facilities cut to BB+(SO) from BBB+(SO) at Care
    • Cites revision in rating of guarantor Zicom Electronic
UPGRADES
  • K.C.P. Sugar
    • LT bank facilities raised to A from A- at Care
    • Cites improvement in financial performance
  • Sawan Engineers
    • LT loan facilities raised to BB- from B+ at Crisil
    • Cites improvement in revenues, operating profitability
  • Symphony Vyapaar
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites satisfactory performance of power plant since inception
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ZSS IN (Zicom Electronic Security Systems Ltd)
0997243D IN (Ardent Steel Ltd)

To de-activate this alert, click here

UUID: 7947283