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Indian companies' credit profiles improving - S&P

Reuters

Reuters Market Eye - Indian companies are improving their credit profiles by selling equity and assets, or using free operating cash flows to reduce debt, Standard & Poor's Ratings Services said on Wednesday. The quest to improve credit profiles comes after a weak economy and high interest rates have adversely impacted their cash flows, while companies are also refocusing on cutting debt after years of fast expansion. S&P highlights infrastructure companies with high leverage are also considering selling assets or stakes in subsidiaries to cut down on their debt levels. (Reporting by Archana Narayanan)