HALISTER1: INDIA RATINGS: Ginza Cut; Karikali Amman, Nuevo Polymers Raised

INDIA RATINGS: Ginza Cut; Karikali Amman, Nuevo Polymers Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Ginza Industries
    • Long term loans cut to BBB+ from A- at ICRA
    • Cites lower-than-expected revenue growth putting pressure on profitability
UPGRADES
  • Karikali Amman Spinning Mills
    • LT fund-based limits raised to BB- from B+ at ICRA
    • Cites improvement in capital structure, debt protection metrics
  • Nuevo Polymers
    • Fund-based limits raised to BB- from B at ICRA
    • Cites healthy ramp up in capacity utilization

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
9764097Z IN (Ginza Industries Ltd)

Topics
Polymers

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