India Inc rating upgrades continue to outnumber downgrades
The credit ratio - that is, the ratio of upgrade to downgrade - decreased sequentially to 1.67 in the first half of FY24 from 2.72 in the second half of FY23. The credit ratio, though, is slightly higher than its 10-year average of 1.54 and is expected to remain range bound, CareEdge said.
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