HALISTER1: INDIA RATINGS: HBS Realtors, Maithan Ispat Cut; Lux Raised

INDIA RATINGS: HBS Realtors, Maithan Ispat Cut; Lux Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • HBS Realtors
    • NCDs cut to D from B at ICRA
    • Cites recent delays in debt servicing
  • Maithan Ispat
    • LT bank facilities cut to B(SO) from BBB-(SO) at Care
    • Cites revision in corporate guarantor Mideast Integrated Steels’ ratings due to delay in servicing of existing debt
  • TD Toll Road
    • Fund based limits cut to BB+ from BBB- at ICRA
    • Cites continued trend of low traffic density
UPGRADES
  • Home First Finance
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites capital infusion, improved resource profile
  • Lux Industries
    • LT bank facilities raised to A+ from A at Care
    • Cites continued growth in operating income, improvement in profitability margins
  • MJ Castings
    • Term loans raised to A+(SO) from A(SO) at ICRA
    • Cites strong financial, managerial support
  • Ostro Jaisalmer
    • Term loan raised to BBB from BBB- at Care
    • Cites successful commissioning of project
  • Tri Solar
    • LT loan facilities raised to BB- from B at Crisil
    • Cites stabilization of its solar power plant, comfortable debt service coverage ratio
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0811745D IN (HBS Realtors Pvt Ltd)
8441517Z IN (Home First Finance Co India Pvt Ltd)
LUX IN (LUX Industries Ltd)
1292966D IN (MJ Casting Ltd)
1283589D IN (Mesco Steel Pvt Ltd)

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