INDIA RATINGS: D. K. Chauhan Lowered; Corey Organics Raised
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- D. K. Chauhan
- Long-term rating cut to BB- from BB at Crisil
- Cites deterioration in liquidity because of a stretch in working capital cycle
- Corey Organics
- Long-term rating raised to B+ from B at Crisil
- Cites improvement in business risk profile due to rise in scale of operations, while maintaining profit margins
- Ravi Foods
- Long-term rating increased to A from A- at Crisil
- Cites steady revenue growth, improving operating profitability
Source: BFW (Bloomberg First Word)
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UUID: 7947283