HALISTER1: INDIA RATINGS: Tentiwala Metal Cut to D; Indian Express Raised

INDIA RATINGS: Tentiwala Metal Cut to D; Indian Express Raised

(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:
  • Sulaiman Steels
    • Long-term loan facilities cut to D from B at Crisil
    • Cites delays in servicing debt
  • Tentiwala Metal Products
    • LT loan facilities cut to D from B+ at Crisil
    • Cites delays in meeting term loan obligations
UPGRADES:
  • Ambuthirtha Power
    • Term loans raised to BBB from BBB- at ICRA
    • Cites long track record and relatively consistent operational performance
  • Enrich Agro Food
    • LT loan facilities revised to BBB from BBB- at Crisil
    • Expects group’s business risk profile to benefit from its established position in the carbonated soft drinks bottling industry
  • Indofil Industries
    • Short-term bank facilities raised to A1 from A2+ at Care Ratings
    • Cites steady improvement in operational performance
  • KCC Roads Construction
    • LT loan facilities raised to BBB from BBB- at Crisil
    • Cites earlier-than-estimated completion of build- operate-transfer project without any cost overrun
  • Nirmal Seeds
    • LT fund based facilities revised to BBB- from BB+ at ICRA
    • Cites consistent revenue growth during last 4 fiscals
  • SJS Enterprises
    • Working capital limits revised to A- from BBB+ at ICRA
    • Cites healthy business growth in FY15 and 9 mos. of FY16
  • The Indian Express
    • Terms loans revised to A- from BBB+ at ICRA
    • Cites healthy financial flexibility marked by robust capital structure
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
542269Z IN (Indian Express Ltd/The)
TMPL IN (Tentiwala Metal Products Ltd)
1333166D IN (Enrich Agro Food Products Pvt Ltd)
1366311D SP (Evergraph Holdings Pte Ltd)
0659643D IN (Indofil Industries Ltd)

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