HALISTER1: INDIA RATINGS: Bhagwati Ferro Metal Cut; Nilkamal Raised

INDIA RATINGS: Bhagwati Ferro Metal Cut; Nilkamal Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Bhagwati Ferro Metal
    • Long-term fund-based limits cut to BBB- from BBB at ICRA
    • Cites sharp decline in profitability due to decline in steel prices
  • Bhagwati Steel Cast
    • LT fund-based limits cut to BBB- from BBB at ICRA
    • Cites decline in sales
UPGRADES
  • Nilkamal
    • LT fund-based bank limits raised to AA from AA- at Care
    • Cites significant improvement in operational performance
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
NILK IN (Nilkamal Ltd)
0557556D IN (Bhagwati Ferro Metal Pvt Ltd)

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