CareEdge Ratings' Chief Rating Officer Sachin Gupta Exclusive

In H1FY24, despite a global slowdown, CareEdge Ratings reported that upgrades outnumbered downgrades in the country. They upgraded 217 companies and downgraded 130 in the six months ending September. CareEdge Ratings' credit ratio, which measures the ratio of upgrades to downgrades, continued to witness normalisation at 1.67 in H1FY24 in line with expectations, moderating from 2.72 in H2FY23 and 3.74 in H1FY23. The ratio is now slightly higher than its 10-year average of 1.54.