HALISTER1: INDIA RATINGS: Bhushan Energy Cut; Mahendra Pumps Raised

INDIA RATINGS: Bhushan Energy Cut; Mahendra Pumps Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Bhushan Energy
    • Long-term bank facilities cut to D from B at Care
    • Cites delays in debt servicing owing to stretched liquidity
  • Supreme Manor Wada Bhiwandi Infrastructure
    • LT rating cut to D from BB+ at Crisil
    • Cites delay in interest payment on term loan, mainly due to weak liquidity
UPGRADES
  • Mahendra Pumps
    • LT rating raised to BB- from B+ at Crisil
    • Cites expectation group’s business risk profile will improve over medium-term
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MUTH IN (Muthoot Finance Ltd)
ARVND IN (Arvind Ltd)
9770841Z IN (Maxop Engineering Co Pvt Ltd)

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