Moody’s changes Macrotech view to stable

Moody’s Investors Service said it changed the outlook for Macrotech Developers Ltd. to stable from negative and affirmed the company’s Caa1 corporate family rating. The agency also affirmed Lodha Developers International Ltd.’s dollar-denominated bonds guaranteed by Macrotech at Caa1.

“The ratings affirmation and change in outlook to stable reflect MDL’s improved liquidity position following (1) the refinancing of its construction loan for GSQ and (2) a gradual recovery in the company’s operating performance, which will result in higher earnings and cash flow,” said Sweta Patodia, a Moody’s analyst, in a press release.

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