Halister News

(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:

• Gauri International
  • LT loan facilities cut to D from BB at Crisil
  • Cites instances of delay in servicing of term debt obligation

• Jagat Jagdamba Flour
  • LT loan facilities cut to D from BB at Crisil
  • Cites continuous overdrawn cash credit limit for more than 30 days

• J.C. Brothers Jewellers
  • LT loan facilities cut to BB+ from BBB- at Crisil
  • Cites depressed cash accrual and large incremental working capital requirement

UPGRADES:

• Bharat Hotels
  • LT bank facilities revised to B from D at Care Ratings
  • Cites improvement in debt servicing track record

• India Japan Lighting
  • LT loan facilities revised to BBB from BB at Crisil
  • Cites Koito Manufacturing acquiring 70.11% in the co.

• Kujjal Builders
  • LT bank facilities raised to B(SO) from D at Care Ratings
  • LT bank facilities of Appollo Zipper also raised to B(SO) from D at Care Ratings
  • Cites credit enhancement in the form of corporate guarantee by Bharat Hotels

• Navi Mumbai SEZ
  • LT bank facilities raised to AA from A at Care Ratings
  • Cites vast experience of promoters in executing large size projects, negligible land acquisition risk