InvestorQ : What has been the month wise trend in credit ratings of corporate debt in terms of downgrades and upgrades?
Mahima Roy made post

What has been the month wise trend in credit ratings of corporate debt in terms of downgrades and upgrades?

Answer
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Aditi Sharma answered.
10 months ago


The table below is quite indicative of the quality of corporate paper in each of the months and the trend is also visible. Check the table below:

Month

Upgraded

Downgraded

Reaffirmed

Rating Watch

No.

Amount ( Rs. in crore)

No.

Amount ( Rs. in crore)

No.

Amount ( Rs. in crore)

No.

Amount ( Rs. in crore)

1

2

3

4

5

6

7

8

9

Apr-10

34

6,987

11

2,046

181

4,59,573

3

5,323

May-10

20

5,886

15

2,459

156

3,56,004

1

50

Jun-10

63

9,968

17

832

209

3,82,133

9

1,096

Jul-10

70

9,992

23

1,137

312

3,30,762

10

762

Aug-10

74

24,126

30

4,069

396

4,93,375

0

0

Sep-10

82

37,598

25

1,548

367

3,76,959

5

329

Oct-10

64

6,289

15

1,966

299

3,54,947

2

275

Nov-10

89

24,230

38

3,317

274

2,04,822

16

9,738

Dec-10

61

6,690

38

5,381

355

3,00,049

23

9,182

Jan-11

43

4,173

25

1,591

339

2,50,853

11

1,226

Feb-11

65

13,438

31

1,267

236

2,28,685

9

2,635

Mar-11

78

8,019

42

2,590

481

4,61,553

11

8,046

Apr-11

51

2,576

46

12,664

224

3,33,338

1

1,122

May-11

79

11,513

38

4,202

251

5,00,542

1

1,122

Jun-11

61

8,422

38

9,001

249

3,20,071

1

1,122

Jul-11

87

8,478

27

3,443

288

2,05,418

1

1,122

Aug-11

42

7,383

54

13,065

239

3,14,938

1

1,122

Sep-11

42

30,697

52

9,173

452

3,57,690

1

1,122

Oct-11

54

3,567

38

2,063

251

1,71,129

1

1,122

Nov-11

76

9,477

48

6,610

403

4,12,775

1

320

Dec-11

45

3,138

90

32,868

475

3,84,908

2

1,680

Jan-12

50

5,823

64

12,703

385

1,07,713

1

60

Feb-12

46

3,699

58

10,259

342

5,76,115

19

13,761

Mar-12

63

6,751

97

19,464

376

51,955

15

9,132

Apr-12

39

1,966

60

11,813

265

70,283

1

570

May-12

68

4,120

107

17,252

396

3,22,623

5

1,350

Jun-12

49

3,500

79

7,288

298

3,46,096

0

0

Jul-12

81

2,444

116

67,749

572

57,739

2

710

Aug-12

73

4,396

128

34,063

423

3,74,898

1

27

Sep-12

51

2,533

132

15,370

620

7,40,951

3

339

Oct-12

56

2,856

127

19,626

449

3,27,233

13

7,273

Nov-12

5

1,050

42

14,201

113

4,04,164

3

667

Dec-12

12

4,466

42

10,824

244

3,89,271

9

4,161

Jan-13

5

133

14

7,620

149

89,447

4

467

Feb-13

10

299

22

3,853

102

2,81,250

1

433

Mar-13

14

859

35

9,664

196

5,12,817

15

6,901

Apr-13

24

2,703

5

1,350

95

3,42,297

1

100

May-13

7

262

9

2,784

69

6,26,494

1

100

Jun-13

25

5,927

16

5,790

207

4,51,334

3

7,143

Jul-13

13

2,952

8

1,699

100

4,30,462

2

933

Aug-13

22

648

17

10,145

133

2,29,308

0

0

Sep-13

14

796

23

8,006

365

7,62,813

0

0

Oct-13

7

622

21

19,292

109

2,11,179

0

0

Nov-13

9

3,516

41

15,633

105

3,12,072

5

730

Dec-13

23

6,458

37

17,364

227

3,95,937

1

1,000

Jan-14

28

13,881

9

5,945

135

6,27,674

3

1,400

Feb-14

23

290

25

8,742

86

2,64,056

2

525

Mar-14

30

8,551

20

5,634

157

3,61,400

3

175

Apr-14

11

3,031

9

4,499

98

1,71,269

6

1,792

May-14

13

2,566

6

1,315

91

5,76,346

2

950

Jun-14

63

24,489

5

10,065

211

2,83,754

18

15,200

Jul-14

69

28,102

42

4,235

259

4,27,324

5

17,681

Aug-14

69

61,079

11

1,351

129

5,23,673

6

2,489

Sep-14

89

19,295

42

22,894

451

11,51,409

1

1,280

Oct-14

17

5,734

4

1,020

129

4,05,406

4

13,080

Nov-14

19

4,851

15

10,214

118

7,05,331

1

2,000

Dec-14

33

18,908

35

22,258

196

2,92,353

4

3,212

Jan-15

29

3,198

20

9,290

63

2,38,133

0

0

Feb-15

28

7,293

6

1,272

80

7,08,681

1

500

Mar-15

24

8,897

11

14,790

105

4,63,460

2

2,560

Apr-15

4

985

6

3,955

65

6,70,671

0

0

May-15

77

13,668

39

3,173

41

6,14,414

11

6,740

Jun-15

12

24,724

15

8,790

265

8,00,730

2

1,580

Jul-15

38

31,187

23

17,042

113

4,92,891

2

1,300

Aug-15

48

12,999

9

4,997

195

3,25,509

1

500

Sep-15

42

5,929

83

39,868

568

13,41,821

3

1,400

Oct-15

46

2,119

11

15,087

81

2,57,821

1

10

Nov-15

5

1,914

16

20,129

81

2,57,983

1

1,280

Dec-15

30

658

17

4,030

103

1,14,476

14

14

Jan-16

1

100

10

23,092

41

1,95,835

2

10,212

Feb-16

37

1,738

33

85,632

88

8,87,670

0

0

Mar-16

7

1,252

90

1,86,182

106

6,74,578

17

30,357

Apr-16

11

5,665

6

3,305

52

8,18,450

1

2,568

May-16

18

1,771

9

10,645

113

8,63,302

0

0

Jun-16

23

3,224

25

24,730

446

13,91,433

3

4,635

Jul-16

51

13,928

11

11,012

201

5,87,633

4

300

Aug-16

29

9,494

9

1,542

215

1,91,465

4

2,415

Sep-16

103

8,643

21

12,853

695

16,48,534

4

8,528

Oct-16

12

559

28

8,872

57

24,827

10

5,986

Nov-16

49

5,766

6

8,018

172

5,77,812

4

3,000

Dec-16

25

8,309

27

29,116

249

7,89,686

18

3,479

Jan-17

15

9,826

5

1,339

90

5,83,934

1

40

Feb-17

7

5,405

13

55,463

186

3,18,497

1

7,500

Mar-17

25

6,734

29

10,726

171

12,61,926

9

11,932

Apr-17

11

19,557

14

9,679

181

8,07,639

2

1,591

May-17

24

8,266

27

1,17,005

137

5,45,576

9

55,832

Jun-17

40

18,344

30

19,734

434

9,31,613

3

385

Jul-17

56

6,917

73

33,748

369

9,68,893

13

4,045

Aug-17

29

7,757

27

37,924

223

7,04,137

5

2,060

Sep-17

29

10,650

24

27,856

625

21,25,610

14

9,096

Oct-17

13

2,635

9

4,099

285

8,23,420

8

3,261

Nov-17

38

41,178

29

7,297

175

2,86,339

5

4,843

Dec-17

37

6,254

20

10,865

363

7,37,063

13

14,884

Jan-18

21

6,469

14

1,851

210

8,85,098

36

39,528

Feb-18

17

18,691

18

8,481

192

6,85,729

12

53,750

Mar-18

45

8,143

46

24,948

397

12,71,403

14

13,175

Apr-18

28

19,681

7

683

310

5,23,390

3

2,351

May-18

36

8,242

65

58,224

369

6,29,542

11

7,050

Jun-18

122

24,679

31

27,660

604

8,52,388

3

7,235

Jul-18

24

3,101

52

33,375

569

6,94,335

22

13,707

Aug-18

155

1,14,545

63

39,758

520

7,56,647

17

17,147

Sep-18

49

16,440

149

1,16,232

606

15,85,493

59

67,281

Oct-18

83

46,695

38

16,351

351

11,66,734

11

4,195

Nov-18

15

1,348

82

1,29,966

451

5,56,978

52

54,117

Dec-18

72

5,921

52

32,466

476

12,44,178

44

7,39,936

As can be seen, in the last few months, there has been a sharp increase in the downgrades and in the number of companies with debt under rating watch. That is indicative of the building pressure in the solvency of these companies.