HALISTER1: INDIA RATINGS: Indian Gem Cut; Goan Fresh Marine Raised

INDIA RATINGS: Indian Gem Cut; Goan Fresh Marine Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Indian Gem
    • Cash credit cut to BB+ from BBB- at ICRA
    • Cites sharp decline in topline
  • Soham Phalguni Renewable Energy
    • Term loan cut to D from B at ICRA
    • Cites delays in debt servicing due to lower-than- expected generations in hydro power project
UPGRADE
  • Goan Fresh Marine
    • Term loan raised to BB+ from BB at ICRA
    • Cites healthy growth in revenues

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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