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MUMBAI: Credit
rating
upgrades for
Indian
companies have continued to outnumber
downgrades
in the first half of FY25. The rate of upgrades, however, has slowed since FY22.
The trend of upgrades has been acknowledged by major
credit
rating agencies. This optimism is fuelled by strong domestic growth driven by govt investments in infrastructure and a resurgence in rural demand.
According to Icra, there is a broader trend of debt reduction among Indian companies, contributing to their improved creditworthiness.
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