HALISTER1: INDIA RATINGS: Gwalior Bypass Cut to D; Tata Marcopolo Raised

INDIA RATINGS: Gwalior Bypass Cut to D; Tata Marcopolo Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Gwalior Bypass Project
    • NCDs cut to D from BB(SO) at Care
    • Cites non-payment of interest and principal
UPGRADE
  • Tata Marcopolo
    • Fund-based working capital bank facility raised to A+ from A at India Ratings
    • Cites substantial improvement in profitability

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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TTMT IN (Tata Motors Ltd)

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