India's Corporate Credit Profile Shows Strong Performance: Ind-Ra

India Ratings and Research (Ind-Ra) reported a robust performance in corporate credit profiles for the first half of the fiscal year. The agency upgraded ratings for 202 issuers, with a significant number seen in large and A-rated corporates. The downgrade-to-upgrade ratio fell to 0.31.

India Ratings and Research (Ind-Ra) announced on Tuesday that the corporate credit profile maintained robust performance in the first half of the current fiscal year, with 202 issuers receiving rating upgrades.

Notably, large corporates and A-rated entities experienced an elevated number of upgrades, resulting in the downgrade-to-upgrade (D/U) ratio dropping to 0.31 for the first half, according to Arvind Rao, Head of Credit Policy Group at Ind-Ra.

"The corporate credit profile continued its robust performance in the first half of FY25, marking the fourth consecutive year of strong outcomes," said Ind-Ra in a statement.

(With inputs from agencies.)