HALISTER1: INDIA RATINGS: Pranaav Marathe Cut; Gujarat Power Raised

INDIA RATINGS: Pranaav Marathe Cut; Gujarat Power Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Pranaav Marathe Jewellers
    • Long-term bank facilities cut to B+ from BB+ at Care
    • Cites overdrawn working capital facilities
UPGRADES
  • Gujarat Power
    • Term loan raised to A+ from A at ICRA
    • Cites improvement in financial-risk profile
  • The Indian Express
    • Term loans raised to A from A- at ICRA
    • Cites higher profitability, reduced debt levels

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
542269Z IN (Indian Express Ltd/The)

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