Ind-Ra upgrades ratings for Lodha Developers group company Macrotech
India Ratings and Research (Ind-Ra) has upgraded the rating for Macrotech Developers Ltd’s (MDL) debt instruments from “BB” to “BBB”, reckoning the Lodha group company’s liquidity will improve. Ind-Ra resolved the Rating Watch Negative (RWN) said the outlook is stable. The resolution of the RWN reflects the timely and successful refinancing of MDL’s London debt with longer maturities and a manageable domestic refinancing scenario. The expectation of a further improvement in MDL’s liquidity position follows obtaining extensions on its domestic loans under the scheme for the d...
Source: business-standard.com