HALISTER1: INDIA RATINGS: Bliss GVS, Jeans Knit Cut; Schwing Stetter Raised

INDIA RATINGS: Bliss GVS, Jeans Knit Cut; Schwing Stetter Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Bliss GVS Pharma
    • Term loans cut to BB+ from BBB at ICRA
    • Cites stretched working capital intensity of operations
  • BMM Ispat
    • Long-term bank facilities cut to B+ from BBB- at Care
    • Cites sharp deterioration in financial-risk profile
  • Jeans Knit
    • LT bank facilities cut to A- from A at Crisil
    • Cites weaker-than-expected operating performance
  • Sanwaria Agro
    • LT bank facilities cut to BB+ from BBB at Care
    • Cites tight liquidity arising from cash losses
UPGRADES
  • Schwing Stetter
    • LT bank facilities raised to A- from BBB+ at Crisil
    • Cites strong order book following recovery in construction and infrastructure sectors
  • Shree Pushkar Chemicals
    • LT fund-based limits raised to A from A- at ICRA
    • Cites improvement in company’s financial risk profile
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BLIS IN (Bliss Gvs Pharma Ltd)
8118106Z IN (BMM Ispat Ltd)
2747102Z IN (Fibre & Fabrics International Pvt Ltd)
SAO IN (Sanwaria Agro Oils Ltd)
1003981Z GR (Schwing GmbH)

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