INDIA RATINGS: IDBI Bank Cut; Eicher Motors, TRN Energy Raised
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
EIM IN (Eicher Motors Ltd)
IDBI IN (IDBI Bank Ltd)
ETR IN (Eastern Treads Ltd)
0966079D IN (TRN Energy Pvt Ltd)
Topics
Emerging Mkts News, Analysis
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UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- IDBI Bank
- Basel III Tier 1 cut to BBB+ from A- at Crisil; Tier 2, infrastructure bonds reduced to A+ from AA-
- Cites significant and more-than-expected deterioration in the bank’s asset quality and earnings
- Eastern Treads
- Long-term bank facilities raised to BB from BB- at Crisil
- Cites steady revenue growth, better-than-expected profitability
- Eicher Motors
- Fund-based facilities raised to AAA from AA+ at ICRA
- Cites continued strong operational performance
- Exult Logistics
- LT bank facilities raised to BBB- from BB+ at Crisil
- Expects group’s working capital management to continue to improve over the medium term
- TRN Energy
- Senior debt raised to BBB+(SO) from BB+ at Care
- Cites letter of comfort provided by promoter ACB India to the lenders ensuring that the company will comply and meet its obligations
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
EIM IN (Eicher Motors Ltd)
IDBI IN (IDBI Bank Ltd)
ETR IN (Eastern Treads Ltd)
0966079D IN (TRN Energy Pvt Ltd)
Topics
Emerging Mkts News, Analysis
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283