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 - Saturday, 03 Aug, 2019

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 International Ltd (LDIL) and guaranteed by MDL to B3 from B2. The outlook on all the ratings above is negative.