India Inc. Financial Health Recovers at Fastest Pace in a Decade
Stores line Mahatma Gandhi Main Road in Ranchi, Jharkand, India.
Photographer: Arko Datto/BloombergThis article is for subscribers only.
The credit quality of Indian companies is improving at the fastest pace in at least a decade, reflecting a sharp recovery in the economy after a slump triggered by the Covid pandemic.
S&P Global Ratings’ local unit Crisil Ltd., recorded a credit ratio -- the number of rating upgrades to downgrades -- of 2.96 in the six months ended Sept. 30, the highest in at least 10 years. Other rating firms also saw credit ratios recovering during the period from the lows reached in the previous year due to the fallout of the coronavirus pandemic.