INDIA RATINGS: UCO Cut, Hinduja Leyland, Indian Bank Raised
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
INBK IN (Indian Bank)
UCO IN (UCO Bank)
ADLB IN (Adlabs Entertainment Ltd)
AL IN (Ashok Leyland Ltd)
CIM AU (CIMIC Group Ltd)
Topics
BFW Asia Credit News
BFW Debt Capital Markets Asia
Emerging Mkts News, Analysis
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UUID: 7947283
(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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- Adlabs Entertainment
- Long-term loans cut to D from BB+ at ICRA
- Cites some delays in servicing debt obligations due to weak liquidity
- Excel Metal Processors
- LT bank facilities cut to D from BBB- at Care
- Cites ongoing delays in debt servicing
- Gwalior Distilleries
- LT bank facility cut to D from B+ at Care
- Cites delay in servicing of debt obligations
- Lalitpur Power Generation
- Term loans cut to BB- from BBB- at ICRA
- Cites liquidity pressures as full tariff for company’s thermal power plant in state of Uttar Pradesh is yet to be approved by regulator
- Oriental Pathways Agra
- LT bank facilities cut to D from BB at Care
- Cites delay in servicing of debt obligations
- UCO Bank
- Lower Tier 2 bonds cut to A+ from AA- at Care, Upper Tier 2 notes also downgraded to A from A+
- Cites sustained weak asset quality during last two years, which has significantly impacted profitability and capital adequacy of the lender
- Western India Metal
- LT bank facilities cut to D from BB at Care
- Cites ongoing delays in debt servicing
- Feedback Infra
- LT bank facilities raised to BBB+ from BBB- at Care
- Cites steady growth in operating income, improvement in profitability metrics
- Hinduja Leyland Finance
- LT bank facilities, NCDs raised to AA- from A+ at Care
- Cites fresh equity infusion, continuous increase in scale of operations
- Indian Bank
- Basel III AT1 perpetual raised to AA+ from AA at Care
- Cites increase in amount of reserves available to make coupon payments on these securities
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
INBK IN (Indian Bank)
UCO IN (UCO Bank)
ADLB IN (Adlabs Entertainment Ltd)
AL IN (Ashok Leyland Ltd)
CIM AU (CIMIC Group Ltd)
Topics
BFW Asia Credit News
BFW Debt Capital Markets Asia
Emerging Mkts News, Analysis
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283