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Moody's downgrades Lodha Developers to B3

Ratings agency Moody's Investors Service has downgraded the corporate family rating of Macrotech Developers (MDL) --formerly known as Lodha Developers--to B3 from B2. Moody's has also downgraded the senior unsecured rating of the US dollar-denominated bonds issued by Lodha Developers Internationa

BY Realty Plus
Published - Aug 3, 2019 4:01 AM

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Ratings agency Moody's Investors Service has downgraded the corporate family rating of Macrotech Developers (MDL) --formerly known as Lodha Developers--to B3 from B2. Moody's has also downgraded the senior unsecured rating of the US dollar-denominated bonds issued by Lodha Developers International Ltd (LDIL) and guaranteed by MDL to B3 from B2. The outlook on all the ratings above is negative.

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