HALISTER1: INDIA RATINGS: Khaitan Electricals Cut; Balrampur Chini Raised

INDIA RATINGS: Khaitan Electricals Cut; Balrampur Chini Raised

(Bloomberg) -- Here’s a roundup of debt-rating changes of Indian cos. To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES
  • Broadcast Engineering Consultants
    • Long-term loan facilities cut to BB+ from BBB- at Crisil
    • Expects liquidity to remain under pressure in the medium term
  • Focuz Corporation
    • LT bank facilities cut to BB+ from BBB- at Care
    • Cites decline in operational and financial performance
  • GRM Overseas
    • LT loan facilities cut to BB from BB+ at Crisil
    • Cites decline in revenue
  • Jaina Mobile
    • Fund based facilities cut to A- from A at ICRA
    • Fund based facilities of Jaina Marketing also cut to A- from A at ICRA
    • Cites increased pressures on Karbonn mobiles profitability
  • Khaitan Electricals
    • LT bank facilities cut to D from BB- at Care
    • Cites ongoing delays in debt servicing
  • KUBS Safes
    • LT bank facilities cut to D from BB- at Care
    • Cites delay in debt servicing
  • Leap Green Group
    • LT loan facilities of the group cut to BBB+ from A- at Crisil
    • Cites moderation in group’s debt protection metrics
  • Maximaa Systems
    • LT bank facilities cut to D from BB at Care
    • Cites delay in debt servicing
  • Noble India Construction
    • LT bank facilities cut to BB+ from BBB- at Care
    • Cites significant decline in scale of operations
  • Supreme Hydro Engineering
    • LT bank facilities cut to BBB from BBB+ at Care
    • Cites deterioration in capital structure
  • Vijay Nirman
    • Fund based limits cut to BB+ from BBB at ICRA
    • Cites deterioration in liquidity profile
UPGRADES
  • Balrampur Chini
    • Term loans revised to A+ from A at ICRA
    • Cites significant increase in domestic sugar prices
  • City Centre Mall Nashik
    • LT bank facilities revised to BB+ from BB at Care
    • Cites increase in scale of operations
  • Mantora Oil Products
    • LT loan facilities revised to BBB- from BB+ at Crisil
    • Expects operating margin, though low, will remain stable over the medium term
  • Supertron Electronics
    • Cash credit revised to A- from BBB+ at ICRA
    • Cites consistent growth in revenue
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BRCM IN (Balrampur Chini Mills Ltd)
KHT IN (Khaitan Electricals Ltd)
GRMO IN (GRM Overseas Ltd)
0896996D IN (Broadcast Engineering Consultants India Ltd)
0489204D IN (Jaina Mobile India Pvt Ltd)

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