HALISTER1: INDIA RATINGS: GMR Infrastructure, Surat Hazira NH-6 Reduced

INDIA RATINGS: GMR Infrastructure, Surat Hazira NH-6 Reduced

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • GMR Infrastructure
    • Long-term bank facilities cut to BB from BBB- at Care
    • Cites weakened liquidity position
  • Surat Hazira NH-6 Tollway
    • LT bank facilities cut to D from C at Crisil
    • Cites delays in interest payment on term loan due to weak liquidity
UPGRADES
  • Amanta Healthcare
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites ramp up in production
  • Jagson International
    • Term loan raised to BBB+ from BBB at Brickwork
    • Cites promoters experience
  • Mold-Tek Packaging
    • LT fund-based limits raised to A from A- at ICRA
    • Cites healthy demand from existing customers
  • Shree Sidhbali Steels
    • LT bank facilities raised to BB- from B+ at Crisil
    • Cites improvement in financial risk profile

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GMRI IN (GMR Infrastructure Ltd)
MTEP IN (Mold-Tek Packaging Ltd)
2303105Z IN (Jagson International Ltd)

Topics
First Word Credit Asia
India Macro News

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