HALISTER1: INDIA RATINGS: GVR Ajmer Cut to D; Dilip Buildcon Raised

INDIA RATINGS: GVR Ajmer Cut to D; Dilip Buildcon Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • GVR Ajmer Nagaur Tollway
    • Bank loan cut to D from BB at India Ratings
    • Cites account being classified as special mention account by its lenders
  • GVR Nagaur Bikaner Tollway
    • Bank loan cut to D from BB at India Ratings
    • Cites account being classified as non- performing asset by its lenders
UPGRADES
  • Dilip Buildcon
    • Long-term bank facilities raised to A+ from A- at Care
    • Cites growth in total operating income
  • I.S.P. Infrastructures
    • LT bank facilities raised to BB from BB- at Crisil
    • Cites healthy booking progress
  • Phillips Carbon Black
    • LT bank facilities raised to A+ from A at Care
    • Cites higher capacity utilization, change in product mix and reduction in finance charges
  • Riba Textiles
    • LT loan raised to BBB- from BB+ at India Ratings
    • Expects significant top-line growth
  • Southern Tropical Foods
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites gradual increase in scale, better profitability
  • Sundaram Exports
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites improvement in financial-risk profile, especially in indebtedness

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
DBL IN (Dilip Buildcon Ltd)
PHCB IN (Phillips Carbon Black Ltd)
RIBA IN (Riba Textiles Ltd)

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