HALISTER1: INDIA RATINGS: ICMC Corp Cut; Terra Energy, Thiru Arooran Raised

INDIA RATINGS: ICMC Corp Cut; Terra Energy, Thiru Arooran Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • ICMC Corp.
    • Long-term fund-based facilities cut to BB from BB+ at ICRA
    • Cites sharp moderation in leverage, other debt metrics
UPGRADE
  • Terra Energy
    • Term loans raised to B+ from D at ICRA
    • Term loans of group entity Thiru Arooran Sugars also upgraded to B+ from D at ICRA
    • Cites regularization of debt servicing obligations
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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TAS IN (Thiru Arooran Sugars Ltd)

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