 "coronavirus, covid-19")
The intensifying impact of Covid-19, coupled with a looming global recession, has cast an unprecedented shadow over the credit quality outlook of India Inc, which was already struggling due to the economic slowdown, said CRISIL.
The impact of a slowing economy has started reflecting in rating actions with downgrades (469) outnumbering upgrades (360) in H2FY20. CRISIL’s credit ratio slid to 0.77 in H2, compared to 1.21 in H1FY20.
However, timely measures by the Reserve Bank of India (RBI) — to permit banks to offer moratorium on servicing of loans until May 2020 — comes as a huge breather.
Over the
