Credit quality of Indian companies stayed healthy in H2FY24, says CRISIL | Finance News
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While commodity prices have softened, the revenue of upgraded companies grew by about 13 per cent in the financial year 2024, largely led by a pick-up in volume
The credit quality of Indian companies remains strong between October 2023 and March 2024 (H2FY24), supported by deleveraged balance sheets, sustained domestic demand, and government-led capital expenditure. Rating upgrades continued to surpass rating downgrades in H2FY24. In all, there were 409 upgrades and 228 downgrades in H2FY24, according to rating agency CRISIL.
The credit ratio, rating upgrades to downgrades, moderated to 1.79 times in the second half of the financial year 2024