INDIA RATINGS: Bhilwara Green Cut; Allahabad Bypass Raised
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Bhilwara Green Energy
- Subordinated non-convertible debentures cut to BBB- from BBB at Care
- Cites stressed liquidity position due to delay in receivables and a low balance in its debt service reserve account
- JJ Realtech
- Long-term rating cut to B+ from BB+ at Crisil
- Cites delay in construction and lower-than-expected customer advances
- Allahabad Bypass Pathways
- Long-term bank facilities raised to BBB+ (SO) from BBB (SO) at Care
- Cites corporate guarantee from Prakash Asphaltings and Toll Highways
- Sri Raghavendra Ferro Alloys
- Long-term rating raised to B+ from B at Crisil
- Cites improvement in liquidity, backed by higher cash accruals and lower dependence on bank limits
Source: BFW (Bloomberg First Word)
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UUID: 7947283