HALISTER1: INDIA RATINGS: Kalisma Steel Cut; Eveready, MTC Business Raised

INDIA RATINGS: Kalisma Steel Cut; Eveready, MTC Business 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
DOWNGRADE
  • Kalisma Steel
    • Fund-based facility cut to BB+ from BBB- at Brickwork
    • Cites deterioration in debt coverage position
UPGRADES
  • DRRK Foods
    • Long-term bank facilities raised to BB+ from BB at Crisil
    • Expects the company to prudently manage its working capital requirement, which will result in low bank borrowings
  • Eveready Industries
    • Term loans raised to AA- from A+ at India Ratings
    • Cites revenue diversification
  • Fabtech Technologies
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites higher revenue and profitability
  • Madhuban Trade
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites correction in MTC group’s capital structure, improved interest coverage
  • MTC Business
    • LT bank facilities raised to A- from BBB+ at Crisil
    • Cites correction in MTC group’s capital structure, improved interest coverage
  • PPAP Automotive
    • LT bank facilities raised to A+ from A at Crisil
    • Cites increasing customer diversification
  • R. C. Enterprise
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites expected improvement in group’s business, financial risk profiles
  • Tulsi Paper
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Expects improvement in revenue, profitability

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
EVRIN IN (Eveready Industries India Ltd)
0349194D IN (Fabtech Technologies International Ltd)
7174837Z IN (MTC Business Pvt Ltd)
PPAP IN (PPAP Automotive Ltd)

Topics
First Word Credit Asia

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283