Page 6 - Lodha Developers
Lodha Developers cuts debt to Rs 14,500 cr in Q1 on back of strong sales
Lodha Group has 31 ongoing projects in London, Mumbai, Pune, Bengaluru and Hyderabad
 "Lodha Developers cuts debt to Rs 14,500 cr in Q1 on back of strong sales")
Lodha Developers to invest Rs 4300 cr in construction to boost deliveries
Infrastructure status to affordable housing will boost availability of cheaper finance
 "Lodha Developers to invest Rs 4300 cr in construction to boost deliveries")
Moody's downgrades Lodha Developer's ratings
Ratings firm Moody's Investors Service has downgraded the corporate family rating of Mumbai based real estate company Lodha Developers to B1 from Ba3.Moody's has also downgraded the senior unsecured debt rating of the US dollar denominated bonds issued by Lodha Developers International Limited and guaranteed by Lodha Developers to B1 from Ba3.Ba3 ratings are assigned to those bonds which are considered non-investment grade. Moody's Corporate Family Ratings (CFR) are opinions of a corporate family's ability to honor all of itsfinancial obligations.Moody's said the outlook on the ratings is negative."The downgrade reflects our expectation that the company's credit metrics will fail to improve to a level more appropriate for its ratings over the next 12-18 months. The company's operating performance will remain well below our original expectations at the time we assigned the ratings for the first time in November 2014 and also below our reduced expectations in June 2015", says Vikas ...