Summary

India Inc. has witnessed heightened credit pressures in fiscal 2020 amidst a sharp slump in consumption demand and a decadal low economic growth. In its Ratings Round Up published in October 2019, CRISIL outlined expectation of increasing credit pressures driven by continuing weak demand, sluggish infrastructure spending, and simmering global trade wars.

The fears of economic growth slowdown have been further compounded in an unprecedented manner by spread of COVID-19 and ensuing physical distancing cum lockdown. This has implications for demand, supply chains as well as production itself even as the measures by the central government and the Reserve Bank of India will provide some relief. The impact on credit profiles of firms across sectors will be different, and so will be their resilience in a post-lockdown world, leading to a differentiated impact on their credit profiles.

As fiscal 2020 comes to a close, it is time to assess credit quality trends for India Inc., as revealed from metrics such as credit ratio (upgrades to downgrades) and debt-weighted credit ratio for CRISIL-rated portfolio, and gauge CRISIL’s credit quality outlook in this rapidly evolving environment.

In this backdrop, CRISIL Ratings invites you to a webinar where our experts will discuss:

• Key credit quality trends and their primary drivers for fiscal 2020
• Which sectors did well and which didn't
• CRISIL's credit quality outlook for India Inc. for fiscal 2021
• Quality and performance of CRISIL’s ratings

The presentation will be followed by a Q&A session.

To view our latest insights on the impact of Covid-19 across different businesses and sectors, click here.