HALISTER1: INDIA RATINGS: Binani, Lovely Enterprises Cut to Default

INDIA RATINGS: Binani, Lovely Enterprises Cut to Default

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Binani Industries
    • Long-term bank facilities cut to D from B+ at Care
    • Cites ongoing delays in debt servicing
  • Lovely Enterprises
    • LT bank facilities cut to D from BB+ at Crisil
    • Cites instances of over-utilization of working capital limits
UPGRADE
  • Gajavelli Spinning Mills
    • LT fund-based limits raised to B+ from B at ICRA
    • Cite improvement in operating margins
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BZL IN (Binani Industries Ltd)
0524520D IN (Lovely Enterprises Pvt Ltd)

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