HALISTER1: INDIA RATINGS: Montage Cut; Happy Forgings, Indo Count Raised

INDIA RATINGS: Montage Cut; Happy Forgings, Indo Count Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS, click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Afflatus Gravures
    • Long-term bank facilities cut to BBB from BBB+ at Crisil
    • Cites change in ownership
  • Montage Enterprises
    • LT bank facilities cut to BBB+ from A- at Crisil
    • Cites stretched working capital cycle
UPGRADES
  • Dembla Valves
    • LT bank facilities raised to BB+ from BB- at Crisil
    • Cites stable revenue, improving profitability
  • Delta Paper Mills
    • LT bank facilities raised to B from B- at Crisil
    • Cites increase in revenue, operating margins
  • Happy Forgings
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites healthy cash generation
  • Indo Count
    • LT bank facilities raised to AA from AA- at Care
    • Cites improvement in overall gearing, debt credit metrics
  • Phenix Spinning
    • Term loans raised to BB+ from BB at Brickwork
    • Cites experience of promoters in textile industry, location advantage
  • Shree Durga Syntex
    • Term loans raised to BBB+ from BBB- at Brickwork
    • Cites improvement in operating performance
  • TCI Express
    • LT bank facilities raised to AA- from A+ at Crisil
    • Cites improvement in operating performance

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ICNT IN (Indo Count Industries Ltd)
1282238D IN (Afflatus Gravures Pvt Ltd)
8157350Z IN (Delta Paper Mills Ltd)
6588116Z IN (Dembla Valves Ltd)
6596652Z IN (Happy Forgings Ltd)

Topics
First Word Credit Asia

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283