HALISTER1: INDIA RATINGS: NKG Infrastructure Cut; National Bulk Raised

INDIA RATINGS: NKG Infrastructure Cut; National Bulk Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • NKG Infrastructure
    • Long-term loan facilities cut to BBB- from BBB+ at Crisil
    • Cites issuance of a non-bailable warrant by the special court of Central Bureau of Investigation against Managing Director Pradeep Garg
    • Calls to the company’s phone went unanswered, while CBI spokeswoman Devpreet Singh could not be reached immediately
UPGRADES
  • National Bulk Handling
    • LT bank facilities raised to A+ from A at Care
    • Cites improvement in financial and operational performance
  • Swati Industries
    • LT loan facilities raised to BB from BB- at Crisil
    • Expects improvement in firm’s financial risk profile
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
NKG IN (NKG Infrastructure Ltd)
FTECH IN (Financial Technologies India Ltd)

People
Pradeep Garg (NKG Infrastructure Ltd)

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