Ratings of 32% of companies are negative

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New delhi date. 13 October 2020, Tuesday

During the first half of the current financial year, the negative ratings of companies rose to 3 per cent due to adverse effects caused by the Corona epidemic and severe lockdowns. Which was 5 per cent during the same period last year.

According to a report released by rating agency Icra, out of the 9 per cent negative ratings of companies, 18 per cent were downgraded. Against this, the percentage of companies offering upgrades was only five per cent. Which is a matter of concern.

The five sectors that have been given negative ratings include the hospitality, real estate, construction, textile and auto ancillary sectors, following the longest and harshest lockdown in the world.

During the period under review, the rating agency had downgraded a total of eight companies. Which accounts for 4% of the total rating. Out of these negative ratings, about 50 per cent of the companies have had their ratings downgraded. On a percentage basis, it is around 15%. Last year, the figure was 10 per cent. During this time, the ratings of 7 companies were upgraded.

In the last 2016-2017, a total of 9 companies defaulted. Against this, 11 companies defaulted in the proposed period.


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