HALISTER1: INDIA RATINGS: Metrostar Print, Mcnally Bharat Cut to Default

INDIA RATINGS: Metrostar Print, Mcnally Bharat Cut to Default

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Blackstone Logistics
    • Long-term loan facilities cut to D from BB- at Crisil
    • Cites delays in servicing term debt due to weak liquidity
  • Mcnally Bharat
    • LT bank facilities cut to D from BB+ at Care; NCDs cut to D from BB
    • LT bank facilities of Mcnally Sayaji also cut to D from BB+(SO) at Care
    • Cites delay in debt servicing
  • Metrostar Print
    • LT loan facilities cut to D from B at Crisil
    • Cites instance of delay in repayment of term loan installments due to weak liquidity
UPGRADES
  • S.R.Chaddha
    • LT loan facilities raised to BBB- from BB+ at Crisil
    • Expects business risk profile to improve over the medium term
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MCNA IN (McNally Bharat Engineering Co Ltd)

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