HALISTER1: INDIA RATINGS: Metro Exporters Cut; Abhi Engineering Raised

INDIA RATINGS: Metro Exporters Cut; Abhi Engineering Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Metro Exporters
    • Fund-based limits cut to BBB- from BBB+ at ICRA
    • Cites sharp decline in operating income
  • Pioneer Globex
    • Working capital term loans cut to D from C+ at ICRA
    • Cites continued delays in the company’s debt servicing
UPGRADE
  • Abhi Engineering
    • Cash credit raised to BBB from BBB- at ICRA
    • Cites healthy augmentation in order book position

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0332105D IN (Metro Exporters Pvt Ltd)

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