HALISTER1: INDIA RATINGS: Dhanya TMT Cut; Grameen Koota, Tirth Agro Raised

INDIA RATINGS: Dhanya TMT Cut; Grameen Koota, Tirth Agro Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Dhanya TMT
    • Long-term loan facilities cut to D from BB- at Crisil
    • Cites instances of delay by the group in servicing its debt obligations
UPGRADES
  • Grameen Koota Financial
    • LT bank facilities raised to A from A- at ICRA; NCDs also revised to A from A-
    • Cites comfortable capitalization profile
  • Indian Farmers Fertilisers
    • LT loan facilities raised to AA from AA- at Crisil
    • Expects strengthening of risk profile due to improving energy consumption in its urea business
  • Tirth Agro
    • LT loan facilities raised to BBB+ from BBB at Crisil
    • Expects company to improve its product mix, increase its geographical footprints
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1261909D IN (Grameen Koota Financial Services Pvt Ltd)
57430Z IN (Indian Farmers Fertilizer Co-operative Ltd)
9600063Z IN (Tirth Agro Technology Pvt Ltd)

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