India Inc grapples with rising rating downgrades, revisions in outlook

Domestic rating agency CARE revised outlook on rating for Tata group-owned Indian Hotels Company Ltd from "stable" to 'negative'

India Inc risks a rise in rating downgrades and revisions, mostly negative in outlook, after the national lockdown to contain the coronavirus was extended till May 3.
 

Fitch has downgraded Tata Motors' (TML)  long-term issuer default rating (IDR) from “BB-” to ‘B’ on significantly lower expectations of profitability and cash flows over the next few years. The outlook is negative.

TML’s domestic operations and its business in key global auto markets, which are served through its UK-based subsidiary Jaguar Land Rover Automotive, are bound to take a hit.
 

As a response to company- and sector-specific events, rating agencies follow a trajectory for