HALISTER1: INDIA RATINGS: MV Agro Renewable Cut; GMR Aviation Raised

INDIA RATINGS: MV Agro Renewable Cut; GMR Aviation Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • MV Agro Renewable
    • Term loan cut to B- from B+ at ICRA
    • Cites lower-than-expected capacity utilization
UPGRADES
  • GMR Aviation
    • Long-term bank facilities raised to BB- from B at ICRA
    • Expects improvement in company’s operational, financial risk profile
  • Samruddha Resources
    • Fund-based limits raised to B- from D at ICRA
    • Cites improved liquidity profile, which has resulted in regularization of debt service obligations
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GMRI IN (GMR Infrastructure Ltd)
0671366D IN (Samruddha Resources Ltd)

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