HALISTER1: INDIA RATINGS: Kancheshwar Sugar Cut; Bagmane Developers Raised

INDIA RATINGS: Kancheshwar Sugar Cut; Bagmane Developers Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Kancheshwar Sugar
    • Long-term bank facilities cut to D from B at Crisil
    • Cites delays in servicing debt due to stretched liquidity
UPGRADES
  • Bagmane Developers
    • Term loan raised to A+ from A at ICRA
    • Cites continued growth and diversification in lease income portfolio
  • First Steps Babywear
    • Term loans raised to A+ from A at ICRA
    • Cites improvement in capitalization, stable profit margins
  • Lakshmi Steel Rolling Mills
    • LT bank facilities raised to BB- from B+ at Crisil
    • Cites recovery in performance during fiscal 2017 due to increased ship-breaking activity

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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