HALISTER1: INDIA RATINGS: Reliance Capital, Tata Teleservices Cut

INDIA RATINGS: Reliance Capital, Tata Teleservices Cut

(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
  • Reliance Capital
    • Long-term debt programme cut to AA+ from AAA at Care
    • Cites demerger of Reliance Capital’s commercial finance division into a wholly-owned subsidiary
  • Sri Kaleeswara Ginning Mills
    • Fund-based facilities cut to D from B- at ICRA
    • Cites delay in servicing of debt obligation
  • Tata Teleservices
    • Term loans cut to A- from A at Care
    • Cites deterioration of its already weak financial risk profile
UPGRADES
  • Anand Jewels (Indore)
    • Fund-based limits raised to BB+ from BB at ICRA
    • Cites company’s ability to sustain its pace of growth in current year
  • Delhi Aviation Fuel Facility
    • Term loans raised to AA- from A+ at ICRA
    • Cites healthy revenue growth
  • Disha Microfin
    • Bank loan facilities raised to A- from BBB- at ICRA
    • Cites consolidation of assets and liabilities of Future Financial Services with Disha and combined strength of the two entities
  • The Mahabir Jute Mills
    • Fund-based limits raised to BB from BB- at ICRA
    • Cites improvement in financial profile

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RCAPT IN (Reliance Capital Ltd)
0350817D IN (Disha Microfin Pvt Ltd)
47588Z IN (Tata Sons Ltd)

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

UUID: 7947283