HALISTER1: INDIA RATINGS: SAIL Cut; PVR Spinning, Ramky Enviro Raised

INDIA RATINGS: SAIL Cut; PVR Spinning, Ramky Enviro Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Steel Authority of India
    • Bonds cut to AA from AA+ at Brickwork
    • Cites significant increase in debt
UPGRADES
  • Aquent Impex
    • Long-term bank facilities raised to BBB- from BB+ at Crisil
    • Cites steady growth in revenues
  • Bush Tea
    • LT bank facilities raised to BB- from B at Crisil
    • Cites growth in operating income
  • Max Hypermarket
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites sustained improvement in operating performance
  • Mumbai Waste Management
    • LT bank facilities raised to BBB+ from BBB at Care
    • Cites improved scale of operation
  • Nipha Exports
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites steady revenue, better operating profit margin
  • PVR Spinning
    • LT bank facilities raised to BB+ from BB- at Crisil
    • Expects business risk profile to continue to improve over the medium term
  • Ramky Enviro
    • LT bank facilities raised to BBB+ from BBB- at Care
    • Cites improved scale of operation
  • Sanvi Spinning
    • LT bank facilities raised to BB from B+ at Care
    • Cites stabilization of operations
  • Sidhivinayak Filaments
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites improved capital structure, better debt protection metrics

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SAIL IN (Steel Authority of India Ltd)
1103341D IN (Bush Tea Co Pvt Ltd)
0490149D IN (MAX Hypermarket India Pvt Ltd)
7558380Z IN (Mumbai Waste Management Ltd)
0948500D IN (Ramky Group)

Topics
First Word Credit Asia
India Macro News

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