HALISTER1: INDIA RATINGS: Pitti Cut; Arvind, GMR Aerospace Raised

INDIA RATINGS: Pitti Cut; Arvind, GMR Aerospace Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • E-Meditek
    • Long-term loan facilities cut to BBB- from BBB at Crisil
    • Cites deterioration in liquidity
  • Pitti Laminations
    • LT bank facilities cut to BBB+ from A- at Care
    • Cites significant decline in profitability parameters
UPGRADES
  • Arvind
    • LT bank facilities raised to AA- from A+ at Care
    • Cites continuous growth in scale of operations
  • GMR Aerospace Engineering
    • Term loan raised to A+(SO) from BBB+(SO) at ICRA
    • Cites corp. guarantee by GMR Hyderabad International Airport
  • Green Woods Palaces
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites successful commissioning of hotel project
  • Plant Lipids
    • LT loan facilities raised to AA- from A+ at Crisil
    • Cites healthy mkt position
  • Thangamayil Jewellery
    • Fund based facilities raised to BBB- from BB+ at ICRA
    • Cites improvement in liquidity position
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ARVND IN (Arvind Ltd)
PTL IN (Pitti Laminations Ltd)
3213170Z IN (MAS-GMR Aerospace Engineering Co Ltd)
0332113D IN (Plant Lipids Pvt Ltd)

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