HALISTER1: INDIA RATINGS: Asian Solvochem Cut; Bhavya Cements Raised

INDIA RATINGS: Asian Solvochem Cut; Bhavya Cements Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Asian Solvochem
    • Non-fund based limits cut to BB from BB+ at ICRA
    • Cites drop in operating income
UPGRADES
  • Bhavya Cements
    • Long-term bank facilities raised to BB+ from BB at Crisil
    • Cites higher capacity utilization, sales volume
  • Gujarat Eco Textile Park
    • LT bank facilities raised to B- from D at Crisil
    • Cites timely servicing of debt due to improved liquidity
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0990976D IN (Bhavya Cements Ltd)

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