HALISTER1: INDIA RATINGS: Global Offshore Cut; Jesons, Mafatlal Raised

INDIA RATINGS: Global Offshore Cut; Jesons, Mafatlal Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Global Offshore Services
    • Term loan cut to BB from BBB+ at Care
    • Cites deterioration in ability to generate cash
  • Rochem Green Energy
    • Long-term loan facilities cut to D from C at Crisil
    • Cites delays in debt servicing
UPGRADES
  • H M Industrial
    • LT bank facilities raised to BB+ from BB at Care
    • Cites growth in total operating income, improvement in profitability
  • Jesons Industries
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites consistent growth in sales volume
  • Mafatlal Industries
    • Fund-based facilities raised to BBB from BBB- at Care
    • Cites increase in scale of operations, improvement in operational performance
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GWOS IN (Global Offshore Services Ltd)
MFI IN (Mafatlal Industries Ltd)
6583228Z IN (Jesons Industries Ltd)

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