HALISTER1: INDIA RATINGS: Godawari Green, JK Paper Raised; Sintex-BAPL Cut

INDIA RATINGS: Godawari Green, JK Paper Raised; Sintex-BAPL Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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UPGRADES
  • Coastal Corp.
    • Long-term bank facilities raised to BBB from BBB- at Crisil
    • Expects business risk profile to continue to improve over the medium term
  • CCS Computers
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites increase in revenue
  • Godawari Green Energy
    • Term loan raised to BBB from BBB- at Care
    • Cites improvement in operating income, profitability
  • Jash Engineering
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites growth in scale of operations
  • JK Paper
    • Term loans raised to A from A- at India Ratings
    • Cites improvement in financials, liquidity
  • Raghava Constructions
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites substantial, sustained increase in scale of operations
DOWNGRADES
  • Sintex-BAPL
    • LT bank facilities, NCD cut to A from AA- at Care
    • Cites delay in equity infusion
  • Thrissur Expressway
    • LT bank facilities cut to D from BB- at Care
    • Cites delays in interest servicing

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JKPAPER IN (JK Paper Ltd)
CTW IN (Coastal Corp Ltd)
JASH IN (Jash Engineering Ltd)
1289831D IN (CCS Computers Pvt Ltd)
GODPI IN (Godawari Power and Ispat Ltd)

Topics
First Word Credit Asia
India Macro News

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