HALISTER1: INDIA RATINGS: JBF Industries Cut; Ozone PB Spintex Raised

INDIA RATINGS: JBF Industries Cut; Ozone PB Spintex Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Antony Road Transport Solutions
    • Long-term bank facilities cut to D from B+ at Care
    • Cites delay in servicing of debt obligations
  • JBF Industries
    • LT bank facilities cut to BB+ from BBB+ at Care
    • Cites significant deterioration in financial risk profile
  • Shree Vardhman Township
    • Term loan cut to D from B at India Ratings
    • Cites defaults on debt obligations due to stressed cash flows
  • Three C Greens Developers
    • NCDs cut to B(SO) from BB+(SO) at ICRA
    • Cites continued weak sales
UPGRADES
  • Ozone PB Spintex
    • Fund-based facility raised to BBB- from BB+ at Brickwork
    • Cites consistent growth in revenue, low customer concentration risk
  • R&D Multiples
    • LT bank facilities raised to BB from BB- at Care
    • Cites increase in operating income and cash accruals, improvement in capital structure

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JBF IN (JBF Industries Ltd)

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