Default rates amongst Indian companies to increase in FY 2018-2019
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From 2.6% in FY 2016-2017 to 3.4% in FY 2017-2018, the rate of defaulters in Indian companies is expected to increase says rating agency ICRA. Possible reasons include higher interest costs, declining business conditions and difficult to get bank funding. The report showed 646 firms had upgraded and 418 had downgraded but didn't claim improvement in credit quality due to banking woes and increased interest rates.