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India Inc credit outlook turns positive, upgrades rise: Crisil

India Inc credit outlook turns positive, upgrades rise: Crisil
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Expanded ECLGS a lifeline for sectors hit by second Covid wave: Crisil

Over 300 pharma, healthcare companies eligible for new Covid loans: Crisil

As many as 354 CRISIL-rated companies, predominantly pharmaceutical firms and hospitals, with an aggregate bank exposure of Rs 40,000 crore will be eligible for Covid loans from lenders under RBI s liquidity facility. Though pharmaceutical firms account for 68 per cent of rated bank exposure, hospitals (about 24 per cent of rated exposure) are likely to avail most of the funding available. The borrowing cost of hospitals rated by CRISIL are 10.5-11 per cent. The new loans taken for expansion under this RBI scheme could be 300-350 basis points cheaper, leading to substantial interest savings for hospitals, CRISIL said a statement today. Subodh Rai, Chief Ratings Officer, CRISIL Ratings, “increased availability of funds at low cost will incentivise hospitals to augment beds, oxygen storage, ICUs and critical medical equipment. Even if half of the funding available is used to add hospital beds through brownfield expansion, it will mean five lakh incremental beds, or 15-20 per c

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