India Inc s credit ratings saw more upgrades than downgrades during October-March 2024, despite challenges like rising borrowing costs and supply constraints due to geopolitical issues. Strong domestic consumption and government infrastructure spending contributed to this trend. Sectors like roads, renewables, and hospitality drove upgrades, while export-oriented sectors faced downgrades. The credit ratio stabilized at pre-COVID levels, indicating positive credit quality outlook for fiscal 2025. However, uncertainties like monsoons and geopolitical landscape changes remain potential risks.
Crisil Ratings forecasts a positive credit quality outlook for Indian corporates in the first half of fiscal year 2024-25, with upgrades expected to exceed downgrades. Sectors like infrastructure, hospitality, and education are bolstered by government spending, while export-linked sectors face uncertainties due to subdued global demand.
Mumbai (Maharashtra) [India], Aug 21 (ANI): Crisil Ratings has revised the credit quality outlook of India Inc for fiscal 2022 to positive from cautiously optimistic earlier, predicated on a sustained recovery in demand after the blip caused by the second wave of Covid-19 afflictions in the first quarter.