HALISTER1: INDIA RATINGS: Sharon Bio-Medicine Cut; Utkarsh Micro Raised

INDIA RATINGS: Sharon Bio-Medicine Cut; Utkarsh Micro Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Chowdary Spinners
    • Bank loan facilities cut to B+ from BB- at Crisil
    • Cites weakening liquidity, reflected in stretched cash accruals
  • Sharon Bio-Medicine
    • Long-term bank facilities cut to D from B+ at Care
    • Cites delays in debt servicing due to strained liquidity
UPGRADES
  • Shri Jagdamba Polymers
    • Long-term bank facilities raised to BBB from BBB- at Care
    • Cites improvement in financial risk profile
  • Utkarsh Micro Finance
    • Long-term bank facilities raised to A from A- at Care
    • Cites improvement in business and earnings profile and equity infusion
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1325297D IN (Sudiva Spinners Pvt Ltd)

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