HALISTER1: INDIA RATINGS: Haldia Petrochemicals, PRG Buildcon Raised

INDIA RATINGS: Haldia Petrochemicals, PRG Buildcon Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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UPGRADES
  • Haldia Petrochemicals
    • Term loans raised to A+ from A- at ICRA
    • Cites high tolling margins, near full capacity utilization of the plant leading to healthy cash accruals
  • Kejriwal Industries
    • Long-term bank facilities raised to A- from BBB+ at Crisil
    • Cites steady revenue growth, sharp increase in profitability
  • Omar International
    • LT bank facilities raised to BB from BB- at Crisil
    • Cites improvement in revenue
  • PRG Buildcon
    • LT bank facilities raised to BB- from B+ at Crisil
    • Cites sustained increase in scale of operations
  • Shree Malani Foams
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites increase in scale of operations, operating profitability margins

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1117Z IN (Haldia Petrochemicals Ltd)
0526713D IN (Kejriwal Industries Ltd)

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