HALISTER1: INDIA RATINGS: GR Construction, Pumarth Infrastructure Cut

INDIA RATINGS: GR Construction, Pumarth Infrastructure Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • GR Construction
    • Term loan cut to D from BB- at ICRA
    • Cites delay in meeting principal payment obligation
  • Pumarth Infrastructure
    • Long-term bank facilities cut to B from B+ at Crisil
    • Cites delay in project execution, no sales
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Source: BFW (Bloomberg First Word)

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