Most companies under Moody's rating are protected against a weaker rupee

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MUMBAI: Most of the six Indian companies under its rating are safe against the weak rupee, Moody's said on Thursday. Even if the rupee depreciates by another 10 to 15 per cent, these companies have enough buffer to withstand it.

Fifty per cent of the six Indian-listed companies under their ratings are already hedging against the rupee's weakness. The other four companies are able to repay debts in the form of foreign currency due to their global performance. These companies have cash flows in foreign currencies, according to a report by Moody's.

The rest of the companies either use financial hedges to meet their debt expenses in US dollars or have low debt ratio in dollars. This helps in limiting the pressure on the cash flow.

The rupee has depreciated by 2.50% against the dollar since the beginning of the year. Cash outflows from the country have increased due to higher commodity prices and pressure on the rupee, the agency said.

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