HALISTER1: INDIA RATINGS: UCO Bank, Satyam Green Energy Cut; Haldia Raised

INDIA RATINGS: UCO Bank, Satyam Green Energy Cut; Haldia Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADES
  • JVL Agro Industries
    • Long-term bank facilities cut to BB+ from BBB+ at CARE
    • Cites stretched liquidity position, elongation of working capital cycle
  • Ruchi Worldwide
    • LT bank facilities cut to BB+ from BBB at CARE
    • Cites co.’s loss in Q4 of FY16 due to volatility of commodity prices
  • Satyam Green Energy
    • LT rating cut to D from B at Crisil
    • Cites delays in debt servicing, weak liquidity
  • UCO Bank
    • Upper Tier 2 bonds cut to A from A+ at ICRA
    • Cites bank’s low capital adequacy, weak asset quality
UPGRADES
  • Haldia Petrochemicals
    • Issuer rating raised to BBB+ from BBB at ICRA
    • Cites better-than-anticipated financial performance
  • Sudhakar Polymers
    • LT rating raised to BBB from BBB- at Crisil
    • Cites expectation of improvement in business risk profile over medium-term
  • Vaishnodevi Refoils and Solvex
    • LT rating raised to BB from BB- at Crisil
    • Cites expectation of improvement in financial risk profile
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SCS IN (Satyam Computer Services Ltd)
UCO IN (UCO Bank)

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