HALISTER1: INDIA RATINGS: Siyaram Silk, Sunstar Raised; Lalit Pipes Cut

INDIA RATINGS: Siyaram Silk, Sunstar Raised; Lalit Pipes Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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UPGRADES
  • Safari Industries
    • Long-term bank facilities raised to BBB+ from BBB at Crisil
    • Cites above-average growth, expectations of further improvement in business-risk profile
  • Shetrunjay Dyeing
    • LT bank facilities raised to BB+ from BB at Crisil
    • Cites sharp improvement in business, financial risk profile
  • Siyaram Silk Mills
    • LT bank facilities raised to AA- from A+ at Crisil
    • Cites continued expansion of operating margin
  • Sunstar Precision
    • Cash credit raised to BBB from BBB- at ICRA
    • Cites favorable demand prospects in the domestic, export markets
DOWNGRADES
  • Lalit Pipes
    • LT bank facilities cut to BB from BB+ at Crisil
    • Cites stretched liquidity position
  • Unique Industrial
    • LT bank facilities cut to BB from BB+ at Crisil
    • Cites reduction in scale of operations and profitability due to delays in execution of some orders

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SIYA IN (Siyaram Silk Mills Ltd)
9265121Z IN (Lalit Pipes & Pipes Ltd)
SII IN (Safari Industries India Ltd)
0675745D IN (Sunstar Precision Forge Ltd)
6591028Z IN (Unique Industrial Handlers Pvt Ltd)

Topics
First Word Credit Asia
India Macro News

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