HALISTER1: INDIA RATINGS: Jindal India, Zicom Cut; Mahindra CIE Raised

INDIA RATINGS: Jindal India, Zicom Cut; Mahindra CIE Raised

(Bloomberg) -- Here’s a roundup of debt-rating changes of Indian cos. To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES
  • Ahinsha Builders
    • LT bank facilities cut to B+ from BB- at Care
    • Cites execution risk associated with its ongoing residential real estate project, low bookings
  • Amul Industries
    • LT bank facilities cut to BB- from BB at Care
    • Cites decline in scale of operations due to demand slowdown in automobile industry
  • Anchor Health
    • LT bank facilities cut to BBB- from BBB at Care
    • Cites losses at operating level, negative cash accruals
  • Jindal India Thermal Power
    • LT bank facilities cut to D from BB+ at Care
    • Cites instances of delays in debt servicing
  • NKG Infrastructure
    • LT loan facilities cut to BBB+ from A- at Crisil
    • Expects performance to remain under pressure over the medium term
  • Zicom Electronic
    • LT bank facilities cut to BBB+ from A- at Care
    • Cites significant adverse effect on its Middle East business due to decline in crude oil prices
UPGRADES
  • Acme Solar Energy
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites healthy operational performance
  • Badve Engineering
    • Term loan raised to A from A- at Care
    • Cites ability of the co. to achieve robust revenue growth
  • Baramati Agro
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites improvement in profitability margins
  • Bodal Chemicals
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites significant improvement in leverage
  • Dharani Sugars
    • LT bank facilities raised to B- from D at Care
    • Cites restructuring of debt
  • French Motor Car
    • LT loan facilities raised to BB from BB- at Crisil
    • Cites improvement in scale of operations
  • Maharashtra Border Check Post
    • LT bank facilities raised to A- from BBB at Care
    • Cites substantial growth in avg daily service fee
  • Mahindra CIE Automotive
    • LT bank facilities raised to A+ from BBB at Care
    • Cites improved operational, financial performance
  • Nayak Infrastructure
    • LT loan facilities raised to BBB- from BB at Crisil
    • Cites improvement in liquidity profile
  • SAMHI Hotels
    • LT bank facilities raised to BBB+ from BBB at Care
    • Cites equity infusion by Goldman Sachs in Dec. 2015, further strengthening the co’s solvency, liquidity profile
  • Savla Chemicals
    • LT loan facilities raised to BBB from BBB- at Crisil
    • Cites increase in scale of operations, profitability margins
  • Shirdi Sai Electricals
    • LT loan facilities raised to A- from BBB+ at Crisil
    • Cites improvement in scale of operations, profitability margins
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0932333D IN (Acme Solar Energy Pvt Ltd)
6597996Z IN (Anchor Health & Beauty Care Pvt Ltd)
9156339Z IN (Badve Engineering Ltd)
8156830Z IN (Baramati Agro Ltd)
BODL IN (Bodal Chemicals Ltd)

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