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Media

How Supertech triggered Round II of NBFC selloff? Is there more to it?

It all re-started with the downgrading of a Rs 1,866 crore loan facility of realty developer Supertech by rating firm Brickwork, amid reports that the builder defaulted on loans to Corporation Bank and Syndicate Bank. The realtor says it has not defaulted on any of its loans.

Brickwork Ratings downgrades ITNL debt obligations to default

Brickwork Ratings has downgraded the rating of the non-convertible debentures (NCDs) of IL&FS Transportation Networks Limited (ITNL), a road arm of IL&FS group, amounting to Rs 3,550 crore to default rating.

Brickwork Ratings downgrades IL&FS Maritime Infra Company's bank loans

Brickwork Ratings has revised the rating for IL&FS Maritime Infrastructure Company Limited's bank loan facilities worth Rs 5.29 billion to BWR C (very high risk of default in timely service of obligation) from BWR BB (BWR double B, indicating moderate risk of default).

Maximum domestic salary of IIM-Ahmedabad grads rose by 36%

The figures were released in the placement report audited by Brickwork Ratings on Thursday. It covered Summer and final placements of PGP, PGP-FABM (Food and Agri-Business Management) courses along with PGPX (executive) final placements.

Aadhar Housing Finance Limited NCD Issue to open on September 14, 2018 with Attractive interest rate of up to 9.75% per annum

Aadhar Housing Finance Limited (the “Company”), a deposit taking housing finance company registered with the NHB and focused on providing affordable housing financing products for the EWS and LIG segment in India, in tier 2 to tier 4 cities and towns, proposes to open public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of face value of Rs. 1,000 on September 14, 2018, 1,40,00,000 for an amount of Rs. 50,000 lakhs (“Base Issue Size”) with an option to retain oversubscription up to Rs. 90,000 lakhs aggregating up to Rs. 1,40,000 lakhs (“Tranche 1 Issue Limit”) (“Tranche 1 Issue”).

Kwality continues on its downward spiral

The ratings firm Brickwork Ratings has downgraded dairy major Kwality’s long-term and short term rating of bank loan facilities to D from triple B minus on Thursday.

Kallam Textiles gets upgradation in credit ratings

Kallam Textiles announced that Brickwork Ratings (BWR) has upgraded the Company's ratings as under...

RInfra's credit profile improves

Reliance Infrastructure's credit profile has improved with debt liability payoffs.

05 Sep 2018    : The Economic Times   BusinessStandard

Agencies begin relook at Reliance Infra ratings on debt reduction measures

Within weeks of facing multiple downgrades, Reliance Infra has begun to see positive rating actions by agencies, with one of them having already withdrawn its 'default' rating following interest payments and final redemption of certain debentures

Lenders to replace Lanco Devihalli as operator of NH-48 in Karnataka

Lenders led by State Bank of India (SBI) have invited bids to replace Lanco Devihalli as the concessionaire of an 80-km stretch along NH-48 in Karnataka, according to sources. The special purpose vehicle (SPV) is the concessionaire of the operational build-operate-transfer (BOT) toll road project. The project’s outstanding debt as on March 31 was Rs 340 crore

Brahmaputra Infrastructure Ltd. - Announcement under Regulation 30 (LODR)-Credit Rating

Pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation 2015, we wish to inform you that, CRISIL Ratings & Brickwork Ratings India Private Limited has assigned the ratings on our residual Debt.....

Jindal Worldwide Ltd. - Announcement under Regulation 30 (LODR)-Credit Rating

Disclosure under Schedule III Part A of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding Revision in Credit Rating by BRICKWORK RATINGS for Bank Credit Facilities of the Company amounting to Rs. 589.90 Crores.

Cox & Kings gets reaffirmation in credit ratings from CARE and Brickwork Ratings

Mumbai, Aug 16 (UNI) Cox & Kings Ltd said that Credit Analysis & Research Ltd (CARE) and Brickwork Ratings India Private Ltd, the Rating Agencies, have reaffirmed and enhanced the Commercial Paper issue carved out of sanctioned working capital limit of the Company from the existing Rs 1647 crores to Rs 1685 crores.

20 August 2018    : EquityBulls   BusinessStandard

Brickwork Ratings reaffirms credit rating of Archidply Industries Ltd

Brickwork Ratings India Pvt Limited has reaffirmed the credit rating to BBB (Outlook Stable) of the Bank Loan facilities of Archidply Industries Ltd.

Cube Highways in talks for India’s longest road tunnel

Mumbai: Infrastructure company Cube Highways has begun talks with IL&FS Transportation Networks Ltd (ITNL) to acquire the latter’s 9.2-km Chenani-Nashri road tunnel project in Jammu & Kashmir, two people aware of the development said. The tunnel on the Jammu-Srinagar highway links Chenani in Udhampur district with Nashri in Ramban district, reducing travel distance from 41km to 10.9km. It is the longest road tunnel in India, which was opened in April 2017.

IL&FS Transportation Networks gets revision in credit ratings

Brickwork Ratings has revised the ratings assigned as under -
Commercial Paper (Rs 1000 cr) -- BWR A4 (Revised from BWR A2+)
Non Convertible Debentures (Rs 3000 cr) -- BWR AA+(SO); Rating Watch Negative (Revised from BWR AA+(SO) / Stable)
Non Convertible Debentures (Rs 550 cr) -- BWR AA+(SO); Rating Watch Negative (Revised from AA+(SO)/ Stable)

Lakshmi Vilas Bank gets revision in ratings for Tier II Bonds

Lakshmi Vilas Bank announced that Brickwork Ratings India has revised the rating from 'BWR A -' (BWR A Minus) to 'BWR BBB+' (BWR Triple B Plus) for the Bank's Unsecured Redeemable Non-Convertible Subordinated Lower Tier II Bonds - Series VII (Option B), of Rs. 50.50 crore.

Brickwork Ratings has been adjudged as India’s 25 Best Financial Services Companies in 2018

An expert panel of CEO and Industrialists, alongwith the editorial board of CEO Insights magazine selected Brickwork Ratings as one of the 25 Best Financial Services Companies in India for 2018. The other companies selected were 5paisa.com, Aditya Birla Capital, Angel Broking, Ashika Group, Aviva Life Insurance Company, Axis Bank, Bajaj Finance, BASIX Sub, Diaz Invest, FinanzIndia, Hero Fincorp, ICICI Securities, IDBI Federal, IIFL, Karvy Finance, L&T Finance, LadCo Crest, Latin Manharlal Security, LSI Financial Services, Max Life Insurance, PNB Housing, Toyota Financial Services, UTI Mutual Fund and Yes Bank.

Axis Bank-led consortium puts Lanco hydel plant in Uttarakhand up for sale

A consortium of lenders led by Axis Bank has put on sale a 76-megawatt (MW) hydropower project — operated by Lanco Mandakini Hydro Energy — in Rudraprayag, Uttarakhand, according to sources.

Anil Ambani’s Reliance Big Entertainment widens FY17 net loss to Rs 553 crore

Anil Ambani’s Reliance Big Entertainment’s net loss for the fiscal ended 2017 has widened 25.39% to Rs 553 crore from Rs 441 crore in the previous fiscal. The company’s EBITDA loss for the fiscal has narrowed 76% to Rs 28.33 crore from Rs 117.13 crore. Revenue has fallen 22% to Rs 73.92 crore from Rs 94.4 crore.

Delhi Daredevils owner GMR Sports plans to raise Rs 550 cr via NCDs

GMR Sports, the owner of Indian Premier League (IPL) franchise Delhi Daredevils, is planning to raise Rs 550 crore via non-convertible debentures (NCDs). The funds raised will be utilised by the company for running the company’s operations and meeting any payments and expenses including any advance payments/expenses for the company’s operational and services contracts.

Brickwork reaffirms rating of Parsvnath Rail Land Project Private Limited

Brickwork has re-affirmed the rating "BWR B (Reaffirmation) (Credit Watch with Positive Implications) (Reaffirmation)", assigned to Rs.360 Crores Non-Convertible Debentures (Series A) and Rs.244.39 Crores Non-Convertible Debentures (Series B) of Parsvnath Rail Land Project Private Limited, a subsidiary company of Parsvnath Developers Limited