Ratings Round Up: October 12-23
Source: www.CreditMarketIndia.blogspot.com
Rating downgrades continue to outnumber upgrades. In the last couple of weeks, we have witnessed 14 downgrades, 11 upgrades and 8 outlook revisions across rating agencies.
Agro & Food processing, Power and Construction sector companies lead the downgrades and downward outlook revisons. The core reason for downgrades again was strained liquidity resulting in delay in debt servicing.
While Infrastructure project companies and financial services were the ones to be upgraded. Improvement in business risk profile for fin services companies and commencement of operations for infrastructure projects were the key factors for upgrades.
Here's the sectoral snapshot of rating actions:
Downgrades
| Dealforwards |  |
| Jan 31, 2012... | Dell Set For India Acquisition: Hexaware, NIIT Potential Targets |
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| Jan 31, 2012... | Flipkart Raises $150Mn From Accel Partners, Tiger Global |
|
| Jan 30, 2012... | 3i Group Invests $61Mn In Supreme Infrastructure |
|
| Feb 1, 2012... | Trishe Energy To Raise PE Funding For Wind Power Projects |
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| Jan 31, 2012... | Radiowalla.in Raises Series A Funding From Ojas Venture Partners |
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Editorial
India A Bright Spot For Otherwise Insolvent CalPERS
I heard that Calfornia Pension is going to default and I started wondering what could be India's contribution to that.
