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Domestic consumption, demand across several sectors, government spending on public infrastructure, and healthy balance sheets helped in improving credit profiles, rating agencies said. Major rating companies have recorded more upgrades than downgrades, although the pace moderated sequentially.
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.
Outlook remains positive amid strong economic outlook
Arvind Rao has over 17 years of experience in the office space segment, having represented developers and tenants as a consultant. Prior to joining Brigade, Arvind worked with DivyaSree Developers and Mapletree on the Development side and with CB Richard Ellis and Cushman & Wakefield as a transaction management profession in their tenant representation divisions.
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