HALISTER1: INDIA RATINGS: Man Industries Cut; Gopani Iron Raised

INDIA RATINGS: Man Industries Cut; Gopani Iron Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Gopinath Dairy Products
    • Long-term bank facilities cut to D from B- at Crisil
    • Cites delays in servicing installments on term loan due to inadequate cash generation
  • Man Industries
    • LT bank facilities cut to BBB+ from A- at Crisil
    • Cites subdued performance of core pipes business, slower-than-expected monetization of a portion of its land bank
UPGRADE
  • Gopani Iron
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites better-than-expected operating performance
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MAN IN (Man Industries India Ltd)
9542042Z IN (Gopani Iron & Power India Pvt Ltd)
MAN US (ManpowerGroup Inc)

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