INDIA RATINGS: Lanford Ceramic, Royal Classic Mills Raised
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Lanford Ceramic
- LT rating raised to B+ from B at Crisil
- Cites adequate liquidity due to sufficient net cash accrual against repayments, support from founders via unsecured loans and cushion in working capital limits
- Royal Classic Mills
- LT rating raised to BBB+ from BBB at Crisil
- Cites better-than-expected operating performance and expectation financial risk profile will improve over medium term
Source: BFW (Bloomberg First Word)
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UUID: 7947283