HALISTER1: INDIA RATINGS: Reliance Telecom Cut; Visual Percept Raised

INDIA RATINGS: Reliance Telecom Cut; Visual Percept Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Reliance Telecom
    • Long-term fund-based/non fund-based limits cut to BBB from BBB+ at ICRA
    • LT fund-based/non fund-based limits of Reliance Infratel also cut to BBB from BBB+ at ICRA
    • Cites steady decline in revenues, profitability of the group over last few quarters
  • Shriram SEPL
    • Term loans cut to D from BBB (SO) at ICRA
    • Cites delay in meeting debt service obligations in a timely manner
  • Vijay Nirman
    • Cash credit cut to D from BB+ at ICRA
    • Cites irregularities in debt servicing
UPGRADES
  • Visual Percept Solar
    • Term loans raised to A+ from A at ICRA
    • Cites change in equity ownership of the company

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RCOM IN (Reliance Communications Ltd)
0930395D IN (Vijay Nirman Co Pvt Ltd)

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