INSUBCONTINENT EXCLUSIVE:
Stresses deepened after India suspended most visas and President Donald Trump halted travel from Europe while stopping short of offering a
most vulnerable firms are surging, fueling concern about their ability to roll over debt
The proportion of local rupee bond issuance with ratings lower than AA+ is again around the lowest since 2005.
That all comes at a bad time
shadow bank crisis sparked by the shock stumble of IL-FS Group in late 2018.
The crisis has cut a key funding source for many smaller
companies that had depended on shadow lenders for loans
Now, as debts come due at these lower-rated firms, the ones that can will try to roll over those obligations in the bond market instead, but
has widened to the most in more than a decade.
BloombergTo make matters worse, credit metrics for domestic firms are deteriorating at a
faster pace this year than last
There have been about three downgrades for each upgrade year-to-date
