HALISTER1: INDIA RATINGS: Prime Steel, Tarachand Cut; Madhav Infra Raised

INDIA RATINGS: Prime Steel, Tarachand Cut; Madhav Infra Raised

(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:
  • Prime Steel Junction
    • Long-term loan facilities cut to D from B+ at Crisil
    • Cites continuous overdrawing in cash credit account
  • Tarachand International
    • LT bank facilities cut to D from B at Care Ratings
    • Cites delay in debt servicing, classification of co’s account as non-performing asset by Union Bank of India
UPGRADES:
  • Madhav Infra Projects
    • LT bank facilities revised to BBB+ from BBB at Care Ratings
    • Cites significant growth in total operating income
  • PNC Bareilly Nainital Highways
    • LT bank facilities revised to BBB from BBB- at Care Ratings
    • Cites provisional commissioning of project, commencement of tolling in Oct. 2015
  • Shri Balaji Sugars
    • Term loans raised to B from D at ICRA
    • Cites timely debt servicing in last 3 mos.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1249245D IN (Madhav Infra Projects Pvt Ltd)
UNBK IN (Union Bank of India)

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