HALISTER1: INDIA RATINGS: Atra, Celkon, Jindal Steel Cut; JSIW Raised

INDIA RATINGS: Atra, Celkon, Jindal Steel Cut; JSIW Raised

(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:
  • Atra Pharmaceuticals
    • Long-term bank facilities cut to D from B+ at Care Ratings
    • Cites ongoing delays in debt servicing
  • Celkon Impex
    • Short-term bank facilities cut to A3 from A3+ at Care Ratings
    • Cites decline in total oper. income, profitability margins for yr ended March 2015
  • Fastrack Communications
    • LT loan facilities cut to D from BB at Crisil
    • Cites instances of delay in servicing bank debt
  • Jindal Steel & Power
    • LT bank facilities cut to BB+ from BBB+ at Care Ratings; NCDs also cut to BB+ from BBB+
    • Cites weakened liquidity position, continued subdued financial performance during 3Q of FY16
  • Lagan Engineering
    • LT loan facilities cut to D from B at Crisil
    • Cites instances of delay in meeting term loan obligation
  • Mangal Shanti Development Corp.
    • LT bank facilities cut to D from B at Care Ratings
    • Cites ongoing delays in debt servicing
UPGRADES:
  • Electronic Payment & Services
    • Term loans raised to BBB from BBB- at ICRA
    • Cites strengthening of co’s capital structure after equity infusion of $25m by U.K.-based Apis Partners
  • JSIW Infrastructure
    • LT bank facilities revised to BBB+ from BBB at Care Ratings
    • Cites growth in scale of operations during FY15
  • South City Projects (Kolkata)
    • LT bank facilities revised to A- from BBB+ at Care Ratings
    • Cites significant progress in major ongoing project
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JSP IN (Jindal Steel & Power Ltd)
0332240D IN (Atra Pharmaceuticals Pvt Ltd)
0861030D IN (Electronic Payments & Services Pvt Ltd)
0180373D IN (Fastrack Communications Pvt Ltd)
1230794D IN (Jsiw Infrastructure Pvt Ltd)

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