HALISTER1: INDIA RATINGS: VLCC Health Care Cut; Tejas Networks Raised

INDIA RATINGS: VLCC Health Care Cut; Tejas Networks Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • VLCC Health Care
    • Long-term fund-based bank facilities cut to A+ from AA- at ICRA
    • Cites slower growth in revenues, pressure on profitability leading to moderation in group’s credit profile
UPGRADES
  • Indian Express Newspapers (Mumbai)
    • Term loans raised to AA(SO) from AA-(SO) at ICRA
    • Cites improvement in debt servicing obligations after company leases out vacant area
  • Tejas Networks
    • Fund-based limits raised to A from BBB+ at ICRA
    • Cites sustained growth in revenues
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
7177549Z IN (Tejas Networks Ltd)
0984696D IN (Pune Infoport Pvt Ltd)
6595628Z IN (VLCC Health Care Ltd)

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