HALISTER1: INDIA RATINGS: Birla Corp, Jaiprakash Cut; Vinayaka Raised

INDIA RATINGS: Birla Corp, Jaiprakash Cut; Vinayaka Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Birla Corp.
    • Long-term rating cut to AA from AA+ at Crisil
    • Cites moderation in capital structure and debt protection metrics
  • Jaiprakash Power Ventures
    • LT bank facilities cut to D from B at Care
    • Cites delays in debt servicing due to weak liquidity
  • SP Superfine Cotton Mills
    • LT term loans and fund-based facilities cut to D from B- at ICRA
    • Cites delays in debt repayment obligations due to stretched liquidity in last 6 mos.
UPGRADES
  • Vinayaka Microns
    • LT rating cut to BB- from B+ at Crisil
    • Cites expectations of improved business profile over medium term
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BCORP IN (Birla Corp Ltd)

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