HALISTER1: INDIA RATINGS: Central Bank of India Cut; Arihant Spintex Raised

INDIA RATINGS: Central Bank of India Cut; Arihant Spintex Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Central Bank of India
    • Lower Tier 2 bonds cut to A+ from AA-, upper Tier 2 notes to A from A+ at ICRA
    • Cites weakness in operating and financial performance of lender, asset quality and solvency profile
UPGRADES
  • Arihant Spintex
    • Long-term rating raised to BB from BB- at ICRA
    • Cites “profitable ramp up in company’s operations and moderate financial profile

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
CBOI IN (Central Bank of India)
6590804Z IN (Uttar Gujarat Vij Co Ltd)

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