HALISTER1: INDIA RATINGS: Inox Wind, Usha International Cut; ATC Raised

INDIA RATINGS: Inox Wind, Usha International Cut; ATC 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
  • G.S. Auto
    • Long-term bank facilities cut to D from BB- at Crisil
    • Cites delay in servicing debt due to stretched liquidity
  • Inox Wind
    • LT bank facilities cut to A- from AA- at Care
    • Cites subdued order book position
  • Inox Wind Infrastructure
    • LT bank facilities, NCDs cut to A-(SO) from AA-(SO) at Care
    • Cites revision in rating of corporate guarantor Inox Wind
  • Intec Capital
    • LT bank facilities, NCDs cut to BB from BBB- at Care
    • Cites deterioration in asset quality
  • Lipi Data Systems
    • LT bank facilities cut to BBB- from BBB at Care
    • Cites decline in total operating income
  • Rajarathnam Construction
    • LT bank facilities cut to D from B+ at Crisil
    • Cites instances of delay in repayment of term loan
  • Usha International
    • Bank facilities cut to BBB- from BBB at ICRA
    • Cites continued pressure on profitability metrics
UPGRADES
  • ATC Foods
    • Cash credit raised to BB- from B+ at ICRA
    • Cites healthy growth in operating income
  • KSH International
    • LT bank facilities raised to BBB+ from BBB at Care
    • Cites improvement in operating profit margins

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
INXW IN (Inox Wind Ltd)
ICL IN (Intec Capital Ltd)
GSAT IN (GS Auto International Ltd)
0197911D IN (KSH International Pvt Ltd)
6592092Z IN (Lipi Data Systems Ltd)

Topics
First Word Credit Asia

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

UUID: 7947283