HALISTER1: INDIA RATINGS: Dehradun Highways Cut; Nuberg Raised

INDIA RATINGS: Dehradun Highways Cut; Nuberg Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Dehradun Highways Project
    • Long-term bank facilities cut to D from B+ at Care
    • Cites delays in debt servicing
  • Hitro Energy Solutions
    • LT rating cut to B- from B at Crisil
    • Cites decline in FY16 business performance
  • Sumesh Engineers
    • LT rating cut to B from B+ at Crisil
    • Cites deterioration in business risk profile
UPGRADES
  • Future Financial
    • Pass-through certificates raised to AA+(SO) from A+(SO) at ICRA
    • Cites good collection performance on underlying pools and enhanced credit enhancement cover for rated securities
  • Nuberg Engineering
    • LT rating raised to BBB from BBB- at Crisil
    • Cites improvement in company’s business profile and liquidity
  • Shivalik Power & Steel
    • LT rating raised to BBB- from BB+ at Care
    • Cites improvement in performance of group company Shivalik Engineering
  • Songwon Specialty Chemicals
    • LT rating raised to BBB- from BB- at Crisil
    • Cites better-than-expected improvement in company’s business risk profile
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SMT IN (Apis India Ltd)
FDLC IN (Fedders Lloyd Corp Ltd)
0885126D IN (Piramal Finance Pvt Ltd)

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