HALISTER1: INDIA RATINGS: Rohini Textile Cut; Pudumjee Paper Raised

INDIA RATINGS: Rohini Textile Cut; Pudumjee Paper Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Kohinoor Paper
    • Long-term fund-based facility cut to B from BB at Brickwork
    • Cites delay in commencing commercial production, low revenues
  • Rohini Textile
    • Fund-based facility cut to D from BB at Brickwork
    • Cites irregular servicing of debt obligations
UPGRADES
  • DK Infrastructure
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites growth in revenue, better working capital management and steady order book
  • Pudumjee Paper Products
    • LT bank facilities raised to A- from BBB+ at Crisil
    • Cites sustainable profitability, efficient working capital management

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PDMJ IN (Pudumjee Paper Products Ltd)
0655567D IN (Kohinoor Paper & Newsprint Pvt Ltd)

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