The development comes within two days of another rating agency Crisil downgraded credit value of Vodafone Idea
CRISIL said the slowdown would be pronounced in the first half of the fiscal, while the second half should find support from expected monetary easing, consumption, and statistical low-base effect
The upgrade reflects the improvement in Technoparks cash flow due to leasing of additional commercial space across its Phases 1, 3 and Technocity
According to CRISIL, if Indian companies were to be assessed on a global scale, their ratings will be in the range of BBB and D
Share of rating segment in total revenue falls 120 basis points year-on-year to 27.4%
CRISIL said ratings assigned to Basel III tier I bonds have been reaffirmed for nine PSBs and outlook has been retained as 'Negative'
The 9.5 per cent NPA figure for March 2017 includes only two-thirds of the overall stressed assets, it said