Halister News

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

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DOWNGRADES

• GVK Transportation
  • Long-term bank facilities cut to B from BB(SO) at Care
  • Cites eroded networth due to accumulated losses, high debt levels

• Sarda Dairy
  • LT bank facilities cut to BB- from BBB- at Crisil
  • Cites change in rating company’s analytical approach as support from parent for timely servicing of debt obligation will be uncertain due to muted demand for steel products

UPGRADES

• BLS Ecotech
  • LT bank facilities raised to BBB from BBB- at Crisil
  • Expects business risk profile to improve over the medium term due to high demand of recycled polyester staple fibre

• Jay Bharat Maruti
  • Term loan raised to AA- from A+ at ICRA
  • Cites volume growth in sales

• Orange DND Wind Power
  • Term loans raised to BBB from BBB- at ICRA
  • Cites satisfactory generation track record from the wind power plant, comfortable liquidity

• Sri Jyoti Renewable Energy
  • Term loans raised to B- from D at ICRA
  • Cites timely debt servicing in the last six months