Moody’s changes Macrotech view to positive

Moody’s Investors Service said it changed Macrotech Developers Ltd.’s outlook to positive from stable and affirmed the Caa1 ratings on the company and the backed senior secured rating of Lodha Developers International Ltd.’s dollar-denominated bonds guaranteed by Macrotech.

"The affirmation of MDL's Caa1 ratings and change in outlook to positive reflects our view that proceeds from the recently concluded IPO and other management initiatives can eventually improve MDL's liquidity, which could then support a higher rating despite pandemic-related operating challenges," said Sweta Patodia, a Moody's analyst, in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.