INDIA RATINGS: Bank of Maharashtra Cut; GMR Hyderabad Raised
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
BOMH IN (Bank of Maharashtra)
GMRI IN (GMR Infrastructure Ltd)
6591532Z IN (Best Paper Mills Pvt Ltd)
1019815D IN (Centrodorstroy India Pvt Ltd)
3667144Z IN (Janalakshmi Financial Services Pvt Ltd)
Topics
First Word Credit Asia
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UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Bank of Maharashtra
- Basel III Tier 1 perpetual bonds cut to BBB+ from A at Care, Tier 2 reduced to A+ from AA
- Cites significant deterioration in financial risk profile due to sharp weakening of asset quality
- Janalakshmi Financial
- Long-term bank facilities, NCDs cut to A- from A at Crisil
- Cites prolonged weakness in collection performance, leading to deteriorating asset quality
- Krishnaping Alloys
- LT bank facilities cut to BB- from BB at Crisil
- Cites high working capital requirements due to stretched receivables
- Best Paper Mills
- LT bank facilities raised to BBB+ from BBB at Crisil
- Cites strengthening of financial risk profile
- Centrodorstroy India
- LT bank facilities raised to BBB from BBB- at Care
- Cites growth in company’s total operating income
- GMR Hyderabad
- LT bank facilities raised to AA from AA- at Crisil
- Cites healthy ramp-up in cash accrual
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
BOMH IN (Bank of Maharashtra)
GMRI IN (GMR Infrastructure Ltd)
6591532Z IN (Best Paper Mills Pvt Ltd)
1019815D IN (Centrodorstroy India Pvt Ltd)
3667144Z IN (Janalakshmi Financial Services Pvt Ltd)
Topics
First Word Credit Asia
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283