HALISTER1: INDIA RATINGS: Hindustan Newsprint Cut; Ankalesh Textiles Raised

INDIA RATINGS: Hindustan Newsprint Cut; Ankalesh Textiles Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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NI INRATINGS , click on Display & Edit, then Set Alert Delivery DOWNGRADES
  • Bengal Ambuja Housing Development
    • Fund-based facilities cut to BBB+ from A- at ICRA
    • Cites weaker financial risk profile, rising cash losses
  • Hindustan Newsprint
    • Long-term rating cut to D from BBB at Crisil
    • Cites devolvement of letters of credit
UPGRADES
  • Ankalesh Textiles
    • Long-term bank facilities raised to BBB+ from BBB at CARE
    • Cites improvement in financial-risk profile of its only customer Arvind Ltd. in FY16
  • Indo-MIM
    • NCDs and term loans raised to AA from AA- at ICRA
    • Cites revenue growth in FY16 and ability to maintain profitability and return indicators
  • Lovelock & Lewes
    • Long-term fund based limits raised to AA from AA- at ICRA
    • Cites robust growth in PricewaterhouseCoopers India’s revenues
  • Purulia and Kharagpur Transmission Co.
    • Long-term rating raised to BBB from BBB- at Crisil
    • Cites expected commissioning of co.’s transmission project
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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ARVND IN (Arvind Ltd)

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