HALISTER1: INDIA RATINGS: Fedders Lloyd Cut; Apis, Piramal Finance Raised

INDIA RATINGS: Fedders Lloyd Cut; Apis, Piramal Finance 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
DOWNGRADES
  • Fedders Lloyd
    • Long-term bank facilities cut to BBB+ from A- at Care
    • Cites deterioration in financial profile due to declining profitability
  • Malaxmi Wind Power
    • LT loan facilities cut to D from B- at Crisil
    • Cites instances of delay in servicing debt due to weak liquidity
UPGRADES
  • Apis India
    • LT loan facilities raised to BBB from BBB- at Crisil
    • Cites healthy demand in export market
  • Davanam Jewellers
    • Fund based facilities raised to B from D at ICRA
    • Cites regularization of cash credit facility
  • Piramal Finance
    • LT bank facilities raised to AA from AA- at ICRA
    • Cites strong management at co.
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)

To de-activate this alert, click here

UUID: 7947283