New Delhi, April 1 -- Credit profile of Indian corporates remained resilient in fiscal year 2025-26 despite tariff-related disruptions and external headwinds with ratings upgrades by ICRA far outpacing downgrades.
In a report released on Wednesday, ICRA said that it upgraded the ratings of 388 entities in FY26, while those of 124 entities were downgraded. This marked a strong credit ratio of 3.1x during the fiscal year ending March 2026.
This represents a significant improvement over the credit ratio of 2.0x in 2024-25 and 2.1x in 2023-24, underscoring benign credit quality trends across most sectors, ICRA said.
The rating agency said that policy support from the government, including measures to boost consumption and infrastructure...