HALISTER1: INDIA RATINGS: Relcon Cut; Laurus Labs, Thirumeni Finance Raised

INDIA RATINGS: Relcon Cut; Laurus Labs, Thirumeni Finance Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Relcon Infraprojects
    • Long-term loan facilities cut to BB+ from BBB at Crisil
    • Expects deterioration in business risk profile over the medium term due to reduced revenue visibility
UPGRADES
  • Ayodhya Gorakhpur SMS Tolls
    • Proposed term loan raised to A- from BBB+ at ICRA
    • Cites robust toll collections
  • Laurus Labs
    • LT bank facilities raised to A+ from A at Care
    • Cites significant improvement in total operating income, profitability
  • The Railway Employees Co-Operative Credit
    • LT loan facilities raised to A- from BBB+ from Crisil
    • Cites significant improvement in scale of operations
  • Thirumeni Finance
    • NCDs raised to BBB- from BB+ at ICRA
    • Cites improvement capitalization following infusion
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1001303Z IN (Laurus Labs Pvt Ltd)
RELC IN (Relcon Infraprojects Ltd)
1068321D IN (Thirumeni Finance Pvt Ltd)

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