Moody's lowers Lodha view to stable

Moody's Investors Service said it affirmed the B2 corporate family rating of Lodha Developers Ltd.

Moody's also said it affirmed the B2 rating of the dollar-denominated bonds issued by Lodha Developers International Ltd. and guaranteed by Lodha Developers.

The agency also revised the outlook to stable from positive.

The outlook revision reflects the company's weaker-than-expected operating sales during the six months to September 2018 and high debt maturities in fiscal years ending March 2020 and March 2021, Moody's explained.

Operating sales in both the geographies in which it operates, Mumbai and London, weakened against expectations in the six months to September 2018, the agency said, and those weaknesses are expected to continue.

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