INDIA RATINGS: Jolly Board Raised; Shree Balaji Cut
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Ideal Chemicals
- Long term rating cut to B from B+ at Crisil
- Cites deterioration in business risk profile due to decline in revenue and cash accruals
- Shree Balaji Coal Traders
- LT rating cut to BB+ from BBB- at Crisil
- Cites weakening of group’s credit risk profile
- Jolly Board
- LT rating raised to BBB+ from BBB at Crisil
- Cites strengthening co.’s financial risk profile on higher lease rental receipts, steady profitability of fibreboard business and gains expected from land asset
- National Buildings Construction
- LT rating raised to AA from AA- at Crisil
- Cites improvement in co.’s business profile
- Ruchira Papers
- LT bank facilities raised to BBB from BBB- at Care
- Cites improvement in financial performance
Source: BFW (Bloomberg First Word)
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UUID: 7947283