HALISTER1: INDIA RATINGS: Indian Overseas Bank Cut; 4 Genius Minds Raised

INDIA RATINGS: Indian Overseas Bank Cut; 4 Genius Minds Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Indian Overseas Bank
    • Basel II upper tier 2 and perpetual bonds cut to A- from A at ICRA
    • Cites continued deterioration in key asset quality indicators
UPGRADES
  • 4 Genius Minds
    • Cash credit raised to BB- from B+ at ICRA
    • Cites healthy revenue growth, improvement in profitability
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
IOB IN (Indian Overseas Bank)
1333137D IN (4 Genius Minds)

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