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Deccan Cements Ltd is a major producer of cement in south India from 1979 and began its commercial production in 1982 located at Bhavanipuram in Nalgonda District of Telangana. The brand is associated with the company's most familiar corporate Mascot 'Chamu'.
Infomerics has downgraded Deccan Cements' Long Term Rating from IVR BBB-/Negative to IVR BB+/Negative, outlook Negative. This review is for proposed NCDs for which the company had *withdrawn* its issuance plan. Infomerics noted 'ISSUER NOT COOPERATING' as the company ceased providing information for an exercise it had already cancelled.
CRISIL Ratings has downgraded Deccan Cements' long-term bank loan facilities to CRISIL BB /Stable (from BBB/Stable) and short-term facilities to CRISIL A4+ (from A3+). The agency noted "ISSUER NOT COOPERATING." However, the company stated it had already paid off all term loans and informed CRISIL, implying no outstanding loans to...