HALISTER1: INDIA RATINGS: Time Technoplast Cut; Indiabulls Real Raised

INDIA RATINGS: Time Technoplast Cut; Indiabulls Real Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Time Technoplast
    • Long-term loan facilities cut to A+ from AA- at Crisil
    • Expects reduction in group’s debt and improvement in credit protection metrics to take longer than earlier anticipated
UPGRADES
  • Bhatia Coke
    • LT fund-based facilities raised to B+ from B at ICRA
    • Cites setting-up of trust and retention account, appointment of concurrent auditor
  • Indiabulls Real Estate Co.
    • LT bank facilities raised to AA-(SO) from BBB+ at Care
    • LT bank facilities of Indiabulls Properties also raised to AA-(SO) from A- at Care
    • Cites credit enhancement in the form of corporate guarantee by Indiabulls Real Estate Ltd.
  • Lalbhai Kalidas
    • LT loan facilities raised to BB from BB- at Crisil
    • Expects sustained improvement in financial-risk profile over the medium term due to equity infusion
  • Sri Sarvaraya Sugars
    • Term loan raised to B+ from B at ICRA
    • Cites low implementation risk associated with capacity expansion plan
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
IBREL IN (Indiabulls Real Estate Ltd)
TIME IN (Time Technoplast Ltd)
1022826D IN (Bhatia Coke & Energy Ltd)
IPIT SP (Indiabulls Properties Investment Trust)
1289134D IN (Lalbhai Kalidas & Co)

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