HALISTER1: INDIA RATINGS: Capitol Hill Cut to D; Musaddilal Projects Raised

INDIA RATINGS: Capitol Hill Cut to D; Musaddilal Projects Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Capitol Hill Hotels
    • Long-term loan facilities cut to D from B- at Crisil
    • Cites delays in servicing term debt
  • Duflon Industries
    • LT loan facilities cut to B+ from BB at Crisil
    • Cites weaker-than-expected operating performance, large working capital cycle
UPGRADES
  • Musaddilal Projects
    • LT loan facilities raised to BBB- from BB+ at Crisil
    • Cites significant improvement in financial-risk profile, liquidity
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Source: BFW (Bloomberg First Word)

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