HALISTER1: INDIA RATINGS: Reliance Infrastructure Cut; Haldia Raised

INDIA RATINGS: Reliance Infrastructure Cut; Haldia Raised

(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:
  • Lotus Farms
    • LT loan facilities cut to D from BB+ at Crisil
    • Cites instances of delay in servicing debt
  • Reliance Infrastructure
    • LT loan facilities cut to A- from A at Crisil
    • Expects financial leverage to take longer than expected to correct
UPGRADES:
  • Haldia Petrochemicals
    • Term loans revised to BBB from BB+ at ICRA
    • Cites change in management of the co, extension given by Finance Ministry for fulfillment of export obligations
  • Oswal Woollen Mills
    • Fund based facilities raised to A+ from A- at ICRA
    • Expects improvement in financial profile over the medium term due to healthy accruals and decline in debt levels
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RELI IN (Reliance Infrastructure Ltd)
OWM IN (Oswal Woollen Mills Ltd)
1117Z IN (Haldia Petrochemicals Ltd)

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