HALISTER1: INDIA RATINGS: Jindal, Suja Shoei, Thermal Powertech Raised

INDIA RATINGS: Jindal, Suja Shoei, Thermal Powertech Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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UPGRADES
  • Farmson Pharmaceutical
    • Long-term loan facilities raised to BBB+ from BBB at Crisil
    • Cites ramped up operations, improved profitability
  • Hombale Constructions
    • LT loan facilities raised to BBB- from BB+ at Crisil
    • Expects healthy revenue growth due to increased orderbook
  • Jindal Industries
    • LT loan facilities raised to A from A- at Crisil
    • Expects co. to sustain healthy financial risk profile due to low gearing, strong debt protection metrics
  • Pearl Distillery
    • LT loan facilities raised to BB+ from BB at Crisil
    • Cites better-than-expected net sales, operating margin
  • Perth Ceramic
    • Term loan raised to B+ from B at ICRA
    • Cites successful project commissioning
  • Suja Shoei
    • LT loan facilities raised to BBB- from BB+ at Crisil
    • Cites revenue growth, improvement in operating margin
  • Thermal Powertech
    • LT bank facilities raised to A- from BBB at Care
    • Cites successful completion of project
  • Yashomala Farming
    • LT bank facilities raised to BB+ from BB at Care
    • Cites improvement in project execution, reduced dependence on debt to fund the project
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
6587992Z IN (Farmson Pharmaceutical Gujarat Pvt Ltd)
9770385Z IN (Jindal Industries Ltd)
SCI SP (Sembcorp Industries Ltd)
0489122D IN (Suja Shoei Industries Pvt Ltd)

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