HALISTER1: INDIA RATINGS: NED Energy Cut; Samrakshana, K G Denim Raised

INDIA RATINGS: NED Energy Cut; Samrakshana, K G Denim Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • NED Energy
    • Long-term loan facilities cut to BBB- from BBB+ at Crisil
    • Expects sustained weakness in company’s operating performance due to slowdown in demand from telecommunications sector
UPGRADES
  • K G Denim
    • LT bank facilities raised to BBB- from BB at Care
    • Cites improved operational, financial performance
  • Samrakshana Electricals
    • LT loan facilities raised to B from B- at Crisil
    • Expects company to sustain improved profitability because of prudent procurement policy
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
KGD IN (KG Denim Ltd)
1434363D IN (Samrakshana Electricals Ltd)
TIME IN (Time Technoplast Ltd)

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