Moody’s revises Lodha to positive

Moody's Investors Service said it affirmed Lodha Developers Ltd.’s (LDL) B2 corporate family rating.

At the same time, the agency affirmed the B2 backed senior unsecured debt rating of the dollar-denominated bonds issued by Lodha Developers International Ltd. and guaranteed by LDL.

The outlook was changed to positive from stable.

"The positive outlook on LDL's ratings reflect our expectation that the improvement in the company's operating sales and collections will be sustained and will lead to an improvement in its financial profile, such as to support a higher rating over the next 12-18 months," Moody's assistant vice president and analyst Saranga Ranasinghe said in a news release.

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