HALISTER1: INDIA RATINGS: Magnifico Minerals Cut, Tanu Motors Raised

INDIA RATINGS: Magnifico Minerals Cut, Tanu Motors 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
DOWNGRADES
  • IREO
    • Term loans cut to BBB- from BBB at ICRA
    • Cites significant slowdown in sales velocity
  • Magnifico Minerals
    • Long-term bank facilities cut to BBB from A- at Crisil
    • Cites significant, sustained pressure on the group’s profitability
  • Pushpak Bullions
    • LT fund-based facilities cut to D from B+ at ICRA
    • Cites ongoing delays in debt servicing
UPGRADES
  • Saveera Hospital
    • LT bank facilities raised to BB from BB- at CARE
    • Cites project completion
  • Tanu Motors
    • LT bank facilities raised to BB- from B at Crisil
    • Cites increasing accrual, funding support from founders
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0989820D IN (Magnifico Minerals Pvt Ltd)
0689848D IN (Pushpak Bullions Pvt Ltd)

To de-activate this alert, click here

UUID: 7947283