HALISTER1: INDIA RATINGS: Ruchi Worldwide Cut; Aarti Industries Raised

INDIA RATINGS: Ruchi Worldwide Cut; Aarti Industries Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Mithila Motors
    • Long-term loan facilities cut to BB from BB+ at Crisil
    • Cites deterioration in liquidity, financial profile
  • Ruchi Worldwide
    • LT bank facilities cut to B(SO) from BB+(SO) at Care
    • Cites high leverage due to significant erosion of its net worth
  • Shri Ambica International
    • LT bank loan cut to D from BB at Crisil
    • Cites instances of delay in servicing debt
UPGRADES
  • Aarti Industries
    • LT loan facilities raised to AA- from A+ at Crisil
    • Cites strong operating performance
  • Kongovi Electronics
    • Term loan raised to BBB+ from BBB at ICRA
    • Cites healthy growth in revenues, operating margins
  • Pasupati Acrylon
    • LT loan facilities raised to BBB- from BB+ at Crisil
    • Cites healthy growth in sales volume
  • Shankaranarayana Constructions
    • Working capital limits raised to A- from BBB+ at ICRA
    • Cites improvement in profit margin
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ARTO IN (Aarti Industries)
6596316Z IN (Mithila Motors Ltd)
PSA IN (Pasupati Acrylons Ltd)
RSI IN (Ruchi Soya Industries Ltd)

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