HALISTER1: INDIA RATINGS: Rashtriya Ispat Cut; NED Energy Raised

INDIA RATINGS: Rashtriya Ispat Cut; NED Energy Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS, click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Autoline Industries
    • Long-term bank facilities cut to D from B- at Care
    • Cites ongoing delays in debt servicing
  • Rashtriya Ispat Nigam
    • Fund-based working capital limits cut to A- from A at India Ratings
    • Cites credit profile to remain stretched due to continued Ebitda losses
  • Sakthi Ferro
    • LT bank facilities cut to BB+ from BBB- at Crisil
    • Cites high reliance on debt for meeting working capital requirement
  • Vasavi Solar Power
    • LT bank facilities cut to D from BB at Care
    • Cites delay in repayment of its debt obligations
UPGRADES
  • Coffee Day Global
    • Term loan raised to AA- from A+ at Care
    • Cites healthy cash generation
  • Genesis Finance
    • LT bank facilities raised to BB from D at Crisil
    • Cites company has been servicing its debt during the past six months
  • NED Energy
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites enhanced support from parent Time Technoplast
  • Shyam Indofab
    • LT bank facilities raised to BB from BB- at Crisil
    • Cites ramp-up of operations

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
AUTOL IN (Autoline Industries Ltd)
886548Z IN (Coffee Day Global Ltd)
RINL IN (Rashtriya Ispat Nigam Ltd)
6598884Z IN (Sakthi Ferro Alloys Pte Ltd)
TIME IN (Time Technoplast Ltd)

Topics
First Word Credit Asia

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283