Moody’s continues Lodha review

Moody's Investors Service said it is continuing its review for downgrade of Lodha Developers Private Ltd.’s (LDPL) B2 corporate family rating and the B2 backed senior unsecured debt rating of the dollar-denominated bonds issued by Lodha Developers International Ltd. and guaranteed by LDPL.

The continuation of the review for downgrade reflects the refinancing risk at one of its London properties.

"The continuation of the review despite the receipt of consent from majority of the bondholders for the consent solicitation carried out by the company, reflects the refinancing risk in London with an impending maturity in September 2017," Moody's Assistant vice president and analyst Saranga Ranasinghe said in a news release.

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