Rising interest rates and a sliding rupee could hurt Indian companies that binged on overseas loans riding low interest rates as rating companies begin to relook at them. Companies with a major component of their revenues generated in rupees will be more vulnerable to a downgrade.
Computer hardware, steel, fertiliser, and coal importers face a possible downgrade while companies from sectors such as pharma, paper, tea and textile firms may benefit with an upgrade, said chief rating officers. Even the outlook can be revised.
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