MUMBAI: Credit rating upgrades for Indian companies have continued to outnumber downgrades in the first half of FY25. The rate of upgrades, however, has slowed since FY22.
The trend of upgrades has been acknowledged by major credit rating agencies. This optimism is fuelled by strong domestic growth driven by govt investments in infrastructure and a resurgence in rural demand.According to Icra, there is a broader trend of debt reduction among Indian companies, contributing to their improved creditworthiness.