HALISTER1: INDIA RATINGS: Balkrishna Paper Cut; Phoenix Ispat Raised

INDIA RATINGS: Balkrishna Paper Cut; Phoenix Ispat Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Balkrishna Paper
    • Long-term bank facilities cut to BB from BB+ at Crisil
    • Cites moderation in liquidity
  • Frontier Knitters
    • LT bank facilities cut to D from BB+ at Crisil
    • Cites delays in servicing term debt
UPGRADES
  • M.P. Jewellers
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites improvement in business risk profile, liquidity
  • Phoenix Ispat
    • LT bank facilities raised to BB- from B+ at Crisil
    • Cites increase in revenue
  • SR Marine Foods
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites diversification in export market

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BPML IN (Balkrishna Paper Mills Ltd)

Topics
First Word Credit Asia

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