INDIA RATINGS: JSW Steel Salav Raised; Mandhana, Tree House Cut
Source: BFW (Bloomberg First Word)
Tickers
JSTL IN (JSW Steel Ltd)
1018907D IN (Century Appliances Ltd)
9255885Z IN (Kail Ltd)
1263624D IN (Millennium Appliances India Ltd)
PI IN (PI Industries Ltd)
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UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Alliance Fibres
- Long-term rating cut to BB from BBB- at Crisil
- Cites deterioration in liquidity due to sharp decline in scale of operations and stretched working capital cycle
- Mandhana Industries
- LT facilities and NCDs cut to BBB+ from A at CARE
- Cites stretched working capital cycle due to elongation in receivables
- Tree House Education & Accessories
- LT fund limits cut to BBB from A at CARE
- Cites weak financial performance of co. in Jan.-March qtr
- 4th Apple Developers
- LT rating raised to B+ from B at Crisil
- Cites improvement in liquidity supported by absence of term debt obligations, near completion of project
- JSW Steel Salav
- LT bank facilities raised to A+ (SO) from AA- (SO) at CARE
- Cites credit enhancement via letter of comfort from parent
- Unique Foods
- LT rating raised to BB+ from BB at Crisil
- Cites improvement in group’s business risk profile because of growth in income and cash accruals
Source: BFW (Bloomberg First Word)
Tickers
JSTL IN (JSW Steel Ltd)
1018907D IN (Century Appliances Ltd)
9255885Z IN (Kail Ltd)
1263624D IN (Millennium Appliances India Ltd)
PI IN (PI Industries Ltd)
To de-activate this alert, click here
UUID: 7947283