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Corporate - Credit Rating
`Credit worthiness improving'

Mumbai, Oct. 15

The credit worthiness of Indian companies, which had deteriorated in 2008-09, is improving, according to rating agency Crisil. The rater attributed this to easier access to funds owing to fiscal and monetary measures, positive stock market conditions and lower commodity prices. However, the recovery will be gradual, the report said. But there is significant uncertainty with respect to exchange rates and consumer demand. Large exchange rate movements can hit export-dependent sectors hard, and domestic demand can be affected by rising prices in general, and food prices in particular. It will be a long and bumpy road for recovery in corporate credit quality, Crisil said. - Our Bureau

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