HALISTER1: INDIA RATINGS: Hamon Shriram Cut; Goldstone, Spykar Raised

INDIA RATINGS: Hamon Shriram Cut; Goldstone, Spykar Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Basudha Udyog
    • Long-term loan facilities cut to D from BB at Crisil
    • Cites delays in meeting term debt obligations due to weak liquidity
  • Hamon Shriram Cottrell
    • LT bank facilities cut to C from BB+ at Care
    • Cites delay in servicing term loan
  • P.S.K. Engineering
    • LT loan facilities cut to BBB- from BBB at Crisil
    • Cites significant decline in revenue
  • Total Transport
    • LT loan facilities raised to BB+ from BBB- at Crisil
    • Cites stretched liquidity, deterioration in business risk
UPGRADES
  • Ashirvad Pipes
    • LT loan facilities raised to A+ from A at Crisil
    • Expects to sustain steady improvement in operating performance over the medium term
  • Corona Remedies
    • LT loan facilities raised to BBB+ from BBB at Crisil
    • Expects company’s profile to improve over the medium term due to private equity infusion
  • Goldstone Infratech
    • LT loan facilities raised to BB+ from BB at Crisil
    • Cites substantial, continued increase in profitability
  • Neuland Laboratories
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites significant growth in operating income, profit level
  • Spykar Lifestyles
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites improvement in operating performance
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GTSL IN (Goldstone Infratech Ltd)
6589308Z IN (Ashirvad Pipes Pvt Ltd)
1019813D IN (Corona Remedies Pvt Ltd)
9536738Z IN (Hamon Shriram Cottrell Pvt Ltd)
NLL IN (Neuland Laboratories Ltd)

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