HALISTER1: INDIA RATINGS: Jyoti Steel Cut; Poddar Diamond Raised

INDIA RATINGS: Jyoti Steel Cut; Poddar Diamond Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Jyoti Steel
    • Long-term loan facilities cut to B+ from BB- at Crisil
    • Cites stretched working capital cycle
UPGRADES
  • Poddar Diamond
    • LT bank facilities cut to BBB- from BB+ at Care
    • Cites improvement in profitability margins
  • Sutlej Textiles
    • Term loan raised to AA from AA- at Care
    • Cites increasing scale of operation
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SUTJ IN (Sutlej Textiles and Industries Ltd)
9770505Z IN (Jyoti Steel Industries)
0656525D IN (Poddar Diamond Ltd)

To de-activate this alert, click here

UUID: 7947283