HALISTER1: INDIA RATINGS: Best Foods, Superhouse Cut; Vivimed Labs Raised

INDIA RATINGS: Best Foods, Superhouse Cut; Vivimed Labs 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:
  • Best Foods
    • Long-term loan facilities cut to D from BBB at Crisil
    • Cites delays in servicing term loans
  • Dashmesh Rice Mills
    • LT bank facilities cut to D from B at Care Ratings
    • Cites ongoing delays in debt servicing due to stressed liquidity position
  • Gemini Edibles
    • LT bank facilities cut to BBB+ from A-(SO) by Care Ratings
    • Weakening of credit profile of guarantor Golden Agri Resource
  • G.M. Kenjale
    • LT loan facilities cut to B- from B at Crisil
    • Cites deterioration in liquidity due to lower-than- expected bookings and customer advances
  • Marigold Constructions
    • LT loan facilities cut to D from BB- at Crisil
    • Cites delay in payment of project loan installment
  • Oswal Spinning
    • LT bank facilities cut to D from C at Care Ratings
    • Cites ongoing delays in debt servicing
  • Rajvir Industries
    • LT loan facilities cut to D from B at Crisil
    • Cites delays in servicing debt
  • Superhouse
    • Fund based facilities cut to A- from A at ICRA
    • Cites decline in revenues over last 5 quarters due to weak demand from customers in European region
  • Tarendra Infrastructure Chennai
    • NCDs cut to B from BB at Care Ratings
    • Cites delay in receipt of necessary approvals required for its ongoing project resulting in strained liquidity position
UPGRADES:
  • Aatash Power
    • LT loan facilities revised to BBB- from BB+ at Crisil
    • Expects operating performance to improve on a sustained basis over the medium term due to healthy plant load factor
  • Chetak Mitra Tollways
    • LT bank facilities revised to A+(SO) from A-(SO) at Care Ratings
    • Revision in guarantor Chetak Enterprises ratings
  • Fabworth Promoters
    • LT bank facilities revised to BB- from D at Care Ratings
    • Cites regularization in interest servicing
  • R E Cables
    • LT bank facilities revised to BBB from BBB- at Care Ratings
    • Cites healthy growth in total operating revenue during FY15
  • Shirdi Sai Electricals
    • LT bank facilities revised to A- from BBB+ at Care Ratings
    • Cites increase in total operating income, profitability margins
  • Vivimed Labs
    • LT bank facilities revised to BBB- from BB+ at Care Ratings
    • Cites improvement in profitability margins
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SUPL IN (Superhouse Ltd)
VILA IN (Vivimed Labs Ltd)
0909630D IN (Chetak Enterprises Ltd)
0812472D IN (Fabworth Promoters Pvt Ltd)
GGR SP (Golden Agri-Resources Ltd)

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