Mumbai: Credit rating firms have put more companies under ‘rating watch’ in the past one year than in the last 12 years following loan defaults by the IL&FS Group that has heightened concerns over the health of indebted companies.
The total worth of corporate bonds under ratings watch has touched Rs 10 lakh crore in FY19 and now constitutes nearly 10 per cent of the total corporate debt, according to data compiled from the Securities and Exchange Board of India (Sebi), which is available since 2007-08. In 2017-18, corporate bonds worth Rs 2 lakh crore were put under ratings watch.