HALISTER1: INDIA RATINGS: Tata Power Renewable Raised; Reliance Infra Cut

INDIA RATINGS: Tata Power Renewable Raised; Reliance Infra Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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UPGRADES
  • Alcobrew Distilleries
    • Long-term bank facilities raised to BBB from BBB- at Crisil
    • Cites increase in scale of operations
  • Blue Circle Organics
    • LT bank facilities raised to BBB- from BB at Care
    • Cites significant growth in scale of operations
  • GHCL
    • LT bank facilities raised to A from A- at Care
    • Cites healthy operating performance of soda ash division
  • Mercator Petroleum, Mercator Oil and Gas
    • LT bank facilities raised to BBB+(SO) from BBB(SO) at Care
    • Cites positive impact on capital structure of guarantor Mercator
  • Precision Automation
    • LT bank facilities raised to A+ from A- at Care
    • Cites significant improvement in capital structure, debt coverage indicators
  • Tata Power Renewable Energy
    • LT bank facilities raised to AA- from A at Care
    • Cites strong and steady cash flow generation, comfortable debt coverage indicators
DOWNGRADE
  • Reliance Infrastructure
    • Bank facilities, NCDs cut to A from A+ at India Ratings
    • Cites delay in fundraising, high leverage

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RELI IN (Reliance Infrastructure Ltd)
TPWR IN (Tata Power Co Ltd/The)
GHCL IN (GHCL Ltd)
MRLN IN (Mercator Ltd)
1082854D IN (Alcobrew Distilleries India Pvt Ltd)

Topics
India Macro News

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