HALISTER1: INDIA RATINGS: Prakash Oils Cut; Himachal Wire Raised

INDIA RATINGS: Prakash Oils Cut; Himachal Wire Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Prakash Oils
    • Cash credit cut to BB from BB+ at ICRA
    • Cites deterioration in company’s financial profile as reflected by operating income decline
UPGRADES
  • Himachal Wire Industries
    • Long-term rating raised to BB from BB- at Crisil
    • Cites expected improvement in company’s financial risk profile, particularly liquidity, driven by higher net cash accrual and absence of debt-repayment obligations
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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