HALISTER1: INDIA RATINGS: Sterlite, Western Refrigeration Raised

INDIA RATINGS: Sterlite, Western Refrigeration Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Shree Geeta Textile Mills
    • Term loan cut to B from B+ at ICRA
    • Cites delay in project commencement, lower-than-expected capacity utilization
UPGRADES
  • Sarala Project Works
    • Long-term bank facilities raised to BBB+ from BBB at Care
    • Cites growth in total income, improvement in order book position
  • Shivalaya Construction
    • LT bank facilities raised to BBB+ from BBB at Care
    • Cites improved financial-risk profile
  • Sterlite Technologies
    • LT bank facilities raised to AA- from A+ at Crisil
    • Cites healthy and steady net cash accrual, reduced debt levels
  • Western Refrigeration
    • LT bank facilities raised to A- from BBB+ at ICRA
    • Cites healthy revenue growth
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SOTL IN (Sterlite Technologies Ltd)
6465 JP (Hoshizaki Corp)

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