HALISTER1: INDIA RATINGS: Prabhat Telecom Cut; Prince Gold Raised

INDIA RATINGS: Prabhat Telecom Cut; Prince Gold Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Prabhat Telecom
    • Cash credit cut to BB+ from BBB- at Brickwork
    • Cites stressed working capital cycle
UPGRADES
  • Kasatex Home
    • Long-term bank facilities raised to BB from BB- at Crisil
    • Cites increase in revenue, accrual
  • Prince Gold
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites healthy revenue growth
  • Rams Assorted Cold
    • LT bank facilities raised to BB from BB- at Crisil
    • Cites improvement in financial risk profile over the medium term
  • Rollwell Conveyor
    • LT bank facilities raised to BB- from B+ at Crisil
    • Cites increase in demand from end-user industries
  • Shri Ram Mall
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites improvement in liquidity due to higher-than- expected fund support from promoters resulting in pre-payment of long term debt obligations.

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PRTIL IN (Prabhat Telecoms India Ltd)

Topics
Emerging Mkts News, Analysis

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