HALISTER1: INDIA RATINGS: ASF Insignia, SVL Cut; Balramapur Chini Raised

INDIA RATINGS: ASF Insignia, SVL Cut; Balramapur Chini Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • ASF Insignia SEZ
    • Term loan cut to BBB- from BBB at ICRA
    • Cites slow execution in under construction building
  • SVL
    • Term loans cut to B+ from BBB at ICRA
    • Cites weakening of investment portfolio with majority of the entities having defaulted in repayment commitments
UPGRADES
  • Balramapur Chini
    • Term loans raised to AA from AA- at ICRA
    • Cites favorable domestic demand-supply scenario
  • Healthcare Global
    • Term loans raised to A- from BBB+ at ICRA
    • Cites strong revenue growth, cash accruals

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0812721D IN (ASF Insignia SEZ Prvt Ltd)
BRCM IN (Balrampur Chini Mills Ltd)
HCG IN (HealthCare Global Enterprises Ltd)
0725948D IN (SVL Ltd)

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