Three companies said that they have received rating downgrades on their debt. Beverage company McLeod Russel saw its CARE ratings revised down to D (Default) with Issuer not Cooperating tacked on. Indian Hume Pipe saw ratings revised down by CARE from A+ territory to A or A1, Polyspin Exports saw both short-term and long-term debt revised down by CARE Ratings, with the lowest rating received at BBB-. To see all stocks that have received recent credit rating downgrades, click here.