HALISTER1: INDIA RATINGS: SunTec Cut; OPGS Power, Renew Wind Raised

INDIA RATINGS: SunTec Cut; OPGS Power, Renew Wind Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • PVR Spinning
    • Long-term loan facilities cut to BB- from BB+ at Crisil
    • Cites steep deterioration in liquidity due to low cash accrual
  • SunTec Infrastructure
    • LT loan facilities cut to BBB from A- at Crisil
    • Cites delay in start of construction of technology park in Kerala
  • Western Precicast
    • LT loan facilities cut to BB+ from BBB- at Crisil
    • Expects group’s liquidity to deteriorate as large incremental working capital requirement seen
UPGRADES
  • GNA Axles
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites improvement in overall financial risk profile
  • OPG Energy
    • Term loans raised to A- from BBB+ at ICRA
    • Cites healthy margins
  • OPGS Power Gujarat
    • Term loans raised to BBB- from BB+ at ICRA
    • Cites commissioning of 2nd unit of co’s power project in Feb.
  • Renew Wind Energy
    • LT fund based limits raised to BBB from BBB- at ICRA
    • Cites satisfactory track record
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
6599972Z IN (GNA Axles Ltd)
0200400D IN (Western Precicast Pvt Ltd)

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