HALISTER1: INDIA RATINGS: Bhilangana Hydro Raised; Bhagawati Cools Cut

INDIA RATINGS: Bhilangana Hydro Raised; Bhagawati Cools Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Bhagawati Cools
    • Long-term bank facilities cut to B+ from BB- at CARE
    • Cites decline in total operating income and deterioration of financial risk profile
  • Ahuja Automobiles
    • Long-term bank facilities cut to D from BB- at CARE
    • Cites delays in debt servicing due to stretched liquidity
UPGRADES
  • Bhilangana Hydro Power
    • Long-term bank facilities and NCDs raised to A- from BBB+ at CARE
    • Cites improvement in financial risk profile in FY16 and first-half of this financial year, supported by growth in revenues, profitability and cash accruals
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0930257D IN (Fomento Resources Pvt Ltd)
0180385D IN (Gopsons Papers Ltd)
0198055D IN (KV Aromatics Pvt Ltd)
47588Z IN (Tata Sons Ltd)

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