After Moody's upgrade, India Inc can raise funds overseas at lower costs

CFOs of large corporates said Moody's upgrade will help tap overseas markets where average cost of funds is Libor plus up to 200-400 basis points

The Indian corporate sector is celebrating the Moody's upgrade as it would reduce their cost of funds on an average by up to 100 basis points while raising funds abroad. The Moody's upgrade comes at a time when in the calendar year 2017, Indian corporates' borrowings declined by 40 per cent from overseas markets as many companies struggled to manage their high debt and low capacity.

CFOs of large corporates said the Moody's upgrade will help them tap overseas markets where the average cost of funds, as of now, is Libor plus up to 200-400 basis points depending on a