 "bank, credit, growth, loans, funding, capital, cash, m&a, payment")
Over 1,700 sub-investment grade mid-size companies (those with turnover of Rs 300-1,500 crore) will need debt restructuring to withstand the Covid-19 onslaught, said CRISIL Ratings on Monday.
A total of 1,754 sub-investment grade firms (BB+ or lower) and 589 investment grade entities (BBB- and above) had opted for moratorium on repayment of dues during March-August 2020. The average debt size of these companies in CRISIL’s rated portfolio, excluding outliers, is around Rs 25-30 crore.
Five sectors — power, gems and jewellery, packaging, hotels, auto component and auto dealers — accounted for over 99 per cent of firms that opted for a moratorium.
