HALISTER1: INDIA RATINGS: Lakhani Shoes, Prime Ispat Lowered

INDIA RATINGS: Lakhani Shoes, Prime Ispat Lowered

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Lakhani Shoes
    • Long-term bank facilities cut to D from C at Crisil
    • Cites instances of devolvement of letter of credit
  • Prime Ispat
    • LT bank facilities cut to BBB- from BBB at Crisil
    • Expects stretch in liquidity due to capex
UPGRADES
  • B.G. Shirke Construction
    • LT loan raised to A from A- at India Ratings
    • Cites strong credit metrics, improved operating margin
  • Ishwar Singh and Associates Construction
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites sustained revenue growth, continued healthy order book

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0489158D IN (BG Shirke Construction Technology Pvt Ltd)
9541986Z IN (Prime Ispat Ltd)

Topics
First Word Credit Asia

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