HALISTER1: INDIA RATINGS: Dehradun Highways Cut; S.P. Jaiswal Raised

INDIA RATINGS: Dehradun Highways Cut; S.P. Jaiswal Raised

(Bloomberg) -- Here’s a roundup of debt-rating changes of Indian cos.
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DOWNGRADES
  • Dehradun Highways
    • LT bank facilities cut to B+ from BB- at Care
    • Cites slow progress of the project compared with envisaged timelines
  • TI Steels
    • Cash credit cut to D from BB- at ICRA
    • Cites delays in debt servicing
UPGRADES
  • S.P. Jaiswal Estates
    • Term loans raised to B+ from B at ICRA
    • Cites improvement in performance of all properties, which may result in an increase in turnover, profits
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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