Just Earth News | @justearthnews | 18 Jun 2021, 08:58 am Print
COVID19 Image: Pixabay
New Delhi: Unprecedented stimulus spending seems to be helping in the recovery of the financial health of Indian companies after a deadly second wave of the COVID-19 pandemic, media reports said.
The ratio of upgrades to downgrades in ratings and credit outlooks by the local units of S&P Global Ratings, Moody’s Investors Service and Fitch Group has improved to 1.2 this quarter, set for the highest level in nearly three years, data compiled by Bloomberg show, reports Bloomberg.
“Local companies are facing fewer downgrades during the second wave of the pandemic than during the first wave as most of them have bolstered their liquidity in the past couple of quarters, thanks to all the pandemic support announced by policymakers,” K. Ravichandran, a deputy chief rating officer at ICRA Ltd, a local unit of Moody’s, was quoted as saying by Bloomberg.
The nascent recovery in Indian firms’ credit quality adds to signs that the pandemic-hit economy may be turning a corner.
- Samsung takes gaming to a new level at Gamescom 2026 with a jaw-dropping new lineup
- Samsung goes big on AI infrastructure with new FläktGroup facility in Pune. All details here
- Why did China order a massive EV recall? Nearly 3 million Teslas among 4.3 million vehicles affected
- Over 200 Apple jobs gone: Siri, Vision Pro teams face major shake-up
- Google job paying Rs 3.3 Crore was his dream—Then he quit to build a startup
-1786284396.jpg "Image of the day: August 9, 2026")
