HALISTER1: INDIA RATINGS: Man Industries Cut; BFCL Terminal, JSK Raised

INDIA RATINGS: Man Industries Cut; BFCL Terminal, JSK Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • C.L.Gulhati and Sons
    • Long-term bank facilities cut to D from C at Crisil
    • Cites delay in meeting interest payments
  • Man Industries
    • LT bank facilities cut to BBB from BBB+ at Crisil
    • Cites slower-than-expected monetization of its residential real estate project
UPGRADES
  • BFCL Terminal
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites commencement of operations
  • JSK Industries
    • Cash credit raised to A from A- at ICRA
    • Cites increase in cash accruals

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MAN IN (Man Industries India Ltd)
0822269D IN (JSK Industries Pvt Ltd)

Topics
Emerging Mkts News, Analysis

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