HALISTER1: INDIA RATINGS: Panache Exports Cut; Ferro Alloys Raised

INDIA RATINGS: Panache Exports Cut; Ferro Alloys Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Panache Exports
    • Long-term fund-based limits cut to B+ from BB- at ICRA
    • Cites low profitability, leveraged capital structure and weak coverage indicators
UPGRADE
  • Ferro Alloys
    • Working capital raised to C from D at ICRA
    • Cites regularization of debt servicing
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
FAC IN (Ferro Alloys Corp Ltd)
0288967D IN (Panache Exports Pvt Ltd)

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