HALISTER1: INDIA RATINGS: Tree House Cut; Blackwood Developers Raised

INDIA RATINGS: Tree House Cut; Blackwood Developers Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • Tree House Education
    • Long-term bank facilities cut to BB from BBB at Care
    • Cites deterioration in financial performance
UPGRADES
  • Blackwood Developers
    • LT loan facilities raised to BBB- from B- at Crisil
    • Expects credit risk profile to improve significantly over the medium term
  • Gangetic Hotels
    • LT loan facilities raised to B+ from B- at Crisil
    • Expects continued strong managerial, financial and operational support from Phoenix group
  • Soma Isolux Surat Hazira Tollway
    • LT loan facilities raised to C from D at Crisil
    • Cites receipt of commencement date of commercial operations, thereby mitigating project implementation risk
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MUTH IN (Muthoot Finance Ltd)
ARVND IN (Arvind Ltd)
9770841Z IN (Maxop Engineering Co Pvt Ltd)

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