INDIA RATINGS: MIRC Electronics Cut; Greenwood High Trust Raised
Source: BFW (Bloomberg First Word)
Tickers
0373246D IN (Arjun Chemicals Pvt Ltd)
9536970Z IN (M Arunachalam Projects & Infrastructure Co Pvt Ltd)
0808706D IN (Prithvi Ferro Alloys Pvt Ltd)
9264057Z IN (Subburaaj Cotton Mill Pvt Ltd)
VT IN (Vindhya Telelinks Ltd)
To de-activate this alert, click here
UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
Alert: HALISTER1- To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
- MIRC Electronics
- Long-term bank facilities cut to BB from BBB at CARE
- Cites weaker financial performance of company in FY16 due to decline in sales, longer working capital cycle and high inventory levels
- Greenwood High Trust
- LT rating raised to A from A- at Crisil
- Cites expectation of steady growth in revenue with an increase in scale of operations and sustenance of operating margin
- Karnataka State Financial Corp
- Non-convertible bond program raised to AA-(SO) from A+ at ICRA
- Cites improvement in credit profile of Karnataka govt, which had guaranteed the bond
- Pokarna Engineered Stone
- LT rating raised to BB+ from BB- at Crisil
- Cites improvement in business risk profile, driven by a sustained increase in scale of operations and profitability margins
Source: BFW (Bloomberg First Word)
Tickers
0373246D IN (Arjun Chemicals Pvt Ltd)
9536970Z IN (M Arunachalam Projects & Infrastructure Co Pvt Ltd)
0808706D IN (Prithvi Ferro Alloys Pvt Ltd)
9264057Z IN (Subburaaj Cotton Mill Pvt Ltd)
VT IN (Vindhya Telelinks Ltd)
To de-activate this alert, click here
UUID: 7947283