HALISTER1: INDIA RATINGS: Bimla Maru Fashions Cut; Privi Organics Raised

INDIA RATINGS: Bimla Maru Fashions Cut; Privi Organics Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Bimla Maru Fashions
    • Long-term bank facilities cut to D from C at Crisil
    • Cites devolvement of letter of credit
  • Magadh Precision Equipment
    • Fund-based limits cut to D from B at ICRA
    • Cites devolvement of letter of credit
UPGRADES
  • Aastha Spintex
    • LT bank facilities raised to BB- from B at Crisil
    • Cites stabilization of operations
  • Marino Food Products
    • LT bank facilities cut to B- from D at Crisil
    • Cites timely servicing of debt over the past four months
  • Naveen Hotels
    • LT bank facilities raised to BBB+(SO) from BBB- at Crisil
    • Cites healthy debt service coverage, instances of accelerated repayment of loans
  • Privi Organics
    • LT bank facilities raised to A- from BBB+ at Crisil
    • Expects business risk profile to continue to improve due to steady topline growth, better profitability
  • Unitech Automobiles
    • LT bank facilities raised to BB- from B at Care
    • Cites improvement in operating performance
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
9155931Z IN (Bimla Maru Fashions Pvt Ltd)
FIH/U CN (Fairfax India Holdings Corp)
6595116Z IN (Magadh Precision Equipment Ltd)
9764377Z IN (Unitech Automobiles Pvt Ltd)

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