HALISTER1: INDIA RATINGS: Solan Spinning Cut; Oudh Sugar Raised

INDIA RATINGS: Solan Spinning Cut; Oudh Sugar Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Solan Spinning Mills
    • Long-term loan facilities cut to D from B+ at Crisil
    • Cites delay in servicing debt obligation
UPGRADES
  • Drashti Cotspin
    • LT bank facilities raised to B+ from B at Care
    • Cites successful start of operations, after project completion
  • Kairali Exports
    • LT loan facilities raised to B+ from B at Crisil
    • Cites improvement in firm’s liquidity
  • Namra Finance
    • LT bank facilities raised to BBB(SO) from BBB-(SO) at Care
    • Cites revision in rating of guarantor Arman Financial Services
  • Prasanthi Cashew
    • LT loan facilities raised to B+ from B at Crisil
    • Cites improvement in liquidity due to increase in cash accruals
  • Pratibha Milk
    • LT bank facilities raised to BBB from BB- at Care
    • Cites support from founders via capital infusion for meeting capex
  • Oudh Sugar
    • LT bank facilities raised to BB+ from BB- at Care
    • Cites exit from the corporate debt restructuring mechanism, substantial improvement in financial performance
  • Vashi Electricals
    • LT loan facilities raised to A- from BBB+ at Crisil
    • Cites increase in revenue, healthy profitability
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
OUDH IN (Oudh Sugar Mills Ltd)
ARLF IN (Arman Financial Services Ltd)
6592388Z IN (Vashi Electricals Pvt Ltd)

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