HALISTER1: INDIA RATINGS: Inox India, Cornerview Cut; Gurdas Agro Raised

INDIA RATINGS: Inox India, Cornerview Cut; Gurdas Agro Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Cornerview Constructions
    • NCDs cut to D from BB- at ICRA
    • Cites instances of delays in servicing interest payments
  • Inox India
    • Long-term bank facilities cut to BBB+ from A- at Crisil
    • Cites continuing losses at company’s overseas subsidiary
UPGRADE
  • Gurdas Agro
    • Non fund-based limits raised to A3 from A4 at Brickwork
    • Cites improvement in operating income

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
4791971Z IN (INOX India Ltd)

Topics
Emerging Mkts News, Analysis

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