HALISTER1: INDIA RATINGS: IRC Natural Cut; Dwarikesh Sugar Raised

INDIA RATINGS: IRC Natural Cut; Dwarikesh Sugar Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • IRC Natural Resources
    • Long-term bank facilities cut to BBB- from BBB at Crisil
    • Cites decline in revenue
UPGRADES
  • Balkrishna Spintex
    • LT bank facilities raised to BB from B+ at Care
    • Cites healthy ramp up of operations and cash surplus
  • Divyasree NSL Infrastructure
    • LT bank facilities raised to A-(SO) from BBB+(SO) at Care
    • Cites timely execution of project, leasing out substantial portion of the commercial space developed
  • Dwarikesh Sugar
    • Term loan raised to A- from BBB- at ICRA
    • Cites improvement in capital structure as the company prepays long-term debt liability after equity infusion
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
DSIL IN (Dwarikesh Sugar Industries Ltd)
0200312D IN (Shyamaraju & Co Pvt Ltd)

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