HALISTER1: INDIA RATINGS: NTPC Tamil Nadu Energy Raised; Jocil Cut

INDIA RATINGS: NTPC Tamil Nadu Energy Raised; Jocil Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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UPGRADES
  • Automat Irrigation
    • Long-term bank facilities raised to BBB+ from BBB at Crisil
    • Cites steady revenue growth
  • Creanza Ceramic
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites improved business risk profile
  • Golden Texo Fabs
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites healthy revenue growth
  • Kashvi Power
    • LT bank facilities raised to BB- from B at Crisil
    • Cites increase in scale, stable cash flow
  • Mantora Oil
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites healthy growth in operating income
  • NTPC Tamil Nadu Energy
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites improved operating, financial performance
DOWNGRADES
  • Ducon Technologies
    • LT bank facilities cut to D from BB+ at Crisil
    • Cites over-utilization of cash-credit limit
  • Jocil
    • LT bank facilities cut to A from A+ at Care
    • Cites subdued operational, financial performance
  • Regency Gangani Energy
    • Fund-based limits cut to D from B at ICRA
    • Cites delays in debt servicing
  • Sanco Industries
    • LT bank facilities cut to BB- from BB at Crisil
    • Cites stretch in liquidity due to large working capital requirements

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JOCIL IN (Jocil Ltd)
0324765D IN (Ducon Technologies I Pvt Ltd)
9542426Z IN (Mantora Oil Products Ltd)
SAIN IN (Sanco Industries Ltd)

Topics
India Macro News

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