HALISTER1: INDIA RATINGS: Essel Propack, Jetair, Thermal Powertech Raised

INDIA RATINGS: Essel Propack, Jetair, Thermal Powertech Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
UPGRADES
  • Essel Propack
    • Long-term bank facilities raised to AA from AA- at Care
    • Cites improvement in profitability margins
  • India Shelter Finance
    • LT bank facilities raised to A- from BBB+ at ICRA
    • Cites ability of the company to scale up operations
  • Jetair
    • LT loan facilities raised to BB+ from BB- at Crisil
    • Cites sharp improvement in business risk profile post re-negotiation of contract with its major customer Jet Airways
  • Lifestyle International
    • LT loan facilities raised to AA- from A+ at Crisil
    • Expects company to maintain strong operating performance over the medium-term
  • Thermal Powertech
    • LT bank facilities raised to A from A- at Care
    • Cites equity infusion, improved operational performance
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ESEL IN (Essel Propack Ltd)
0570670D IN (India Shelter Finance Corp Ltd)
SCI SP (Sembcorp Industries Ltd)

To de-activate this alert, click here

UUID: 7947283