HALISTER1: INDIA RATINGS: Reliance Infrastructure Cut; ENN ENN Raised

INDIA RATINGS: Reliance Infrastructure Cut; ENN ENN Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Ami Estates
    • Long-term bank facilities cut to B+ from BB at Crisil
    • Cites delay in project implementation
  • Nelito Systems
    • LT bank facilities cut to BBB+ from A- at Crisil
    • Cites change to more diffused holding structure
  • Reliance Infrastructure
    • LT bank facilities, NCD cut to A- from A+ at Care
    • Cites delay in proposed debt reduction plan of the company
UPGRADES
  • Deepak Novochem
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites growth in total operating income
  • ENN ENN Corp
    • Term loan raised to BBB from BBB- at India Ratings
    • Expects substantial improvement in revenue

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RELI IN (Reliance Infrastructure Ltd)
9156355Z IN (Deepak Novochem Technologies Ltd)
6589004Z IN (Nelito Systems Ltd)

Topics
First Word Credit Asia
India Macro News

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