HALISTER1: INDIA RATINGS: Puravankara, Sudhakar Raised; Ansal Hi-Tech Cut

INDIA RATINGS: Puravankara, Sudhakar Raised; Ansal Hi-Tech Cut

(Bloomberg) -- Here’s a roundup of Indian company debt-rating changes.
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UPGRADES
  • B S Progressive
    • Long-term bank facilities raised to BBB from BBB- at Crisil
    • Cites consistent increase in profitability
  • Ferozepur Foods
    • LT bank facilities raised to BB from BB- at Care
    • Cites increasing scale of operations
  • Provident Housing
    • Fund-based limits raised to BBB+ from BBB at ICRA
    • Cites improvement in sales
  • Puravankara
    • Fund-based limits raised to BBB+ from BBB at ICRA
    • Cites improvement in project sales
  • Sudhakar PVC Products
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites sustained revenue growth, stable margins
DOWNGRADE
  • Ansal Hi-Tech
    • Fund-based facility cut to B+ from BB- at Brickwork
    • Cites tight liquidity position

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PURVA IN (Puravankara Ltd)

Topics
First Word Credit Asia
India Macro News

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