HALISTER1: INDIA RATINGS: Micro Therapeutic Cut; Trent Hypermarket Raised

INDIA RATINGS: Micro Therapeutic Cut; Trent Hypermarket Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Micro Therapeutic
    • Long-term bank facilities cut to D from BBB- at Care
    • Cites delay in debt servicing due to strained liquidity position
UPGRADES
  • Ahluwalia Contracts
    • LT bank facilities raised to A from A- at Care
    • Cites healthy profitability margins, improvement in solvency position
  • CL Gupta Exports
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites improvement in operational performance
  • Trent Hypermarket
    • NCDs raised to AA+(SO) from AA(SO) at Care
    • Cites revision in rating of guarantor Trent Ltd.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
TRENT IN (Trent Ltd)
AHLU IN (Ahluwalia Contracts India Ltd)
0285623D IN (CL Gupta Exports Ltd)
0180379D IN (Trent Hypermarket Pvt Ltd)

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