Halister News

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

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DOWNGRADES

• MEP Infrastructure
  • Long-term rating cut to BB- (SO) from BB+ (SO) at Crisil
  • Cites deterioration in co.’s financial risk profile due to higher-than-expected operational and maintenance expenses and lower-than-expected toll collection

UPGRADES

• Gautam Technocast
  • Long-term rating raised to BB+ from BB at Crisil
  • Cites expectation of an improvement in business and financial risk profile due to adding clients and revival in demand for automotive castings
• Sapphire Projects
  • Term loans raised to B from D at ICRA
  • Cites improvement in debt servicing by company