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Rating agency CRISIL on Wednesday upgraded the credit quality outlook of India Inc for FY22 from “cautiously optimistic” to “positive”, predicated on a sustained recovery in demand. This comes after the blip caused by the second wave of Coronavirus (Covid-19) pandemic in Q1FY22.
The increase in coverage of vaccinations should also mitigate the impact of a third wave if it comes, CRISIL said in a statement.
A CRISIL Ratings study of 43 sectors (accounting for 75 per cent of the Rs 36 trillion of outstanding rated debt, excluding the financial sector) shows that the current recovery is broad-based.
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