HALISTER1: INDIA RATINGS: IFCI Factors Cut; Akhil Ship, Chemco Raised

INDIA RATINGS: IFCI Factors Cut; Akhil Ship, Chemco Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS, click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • IFCI Factors
    • Long-term bank facilities cut to BBB(SO) from BBB+(SO) at Care
    • Cites stress on profitability, deterioration in asset quality
  • Pranaav Marathe Jewellers
    • LT bank facilities cut to D from B+ at Care
    • Cites overdrawn working capital facilities
UPGRADES
  • Akhil Ship Breakers
    • Non fund-based limits raised to B from B- at India Ratings
    • Cites improvement in scale of operations
  • Chemco Plastic
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites healthy cash accruals
  • RKEC Projects
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites ramp-up in scale of operations
  • Wave Hospitality
    • LT bank facilities raised to BB+ from BB- at Crisil
    • Expects increase in avg rent per room and robust occupancy

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
IFCI IN (IFCI Ltd)
0526801D IN (Chemco Plastic Industries Pvt Ltd)
1489023D IN (Rkec Projects Ltd)

Topics
First Word Credit Asia

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283