HALISTER1: INDIA RATINGS: Sanjay Grain Cut; Haldiram Snacks, KR Pulp Raised

INDIA RATINGS: Sanjay Grain Cut; Haldiram Snacks, KR Pulp Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Sanjay Grain
    • Long-term bank facilities cut to BB from BB+ at Care
    • Cites deterioration in financial performance
UPGRADES
  • Haldiram Snacks
    • Term loans raised to AA from AA- at ICRA
    • Cites healthy growth in operating income, steady improvement in profitability metrics
  • KR Pulp
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites consistent improvement in financial-risk profile, healthy liquidity position
  • Lexus Granito
    • Term loans raised to BB from BB- at ICRA
    • Cites increase in operating income
  • Shreedhar Milk
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites scaling-up of operations
  • Sound Castings
    • LT bank facilities raised to A from A- at Care
    • Cites growth in scale of operations
  • Tecnimont
    • LT bank facilities raised to AA- from A+ at Care
    • Cites improvement in orderbook-to-sales ratio
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
9536442Z IN (Haldiram Snacks Pvt Ltd)
7581244Z IN (KR Pulp & Papers Ltd)
6593396Z IN (Sound Castings Pvt Ltd)

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