CRISIL believes recent asset sales by domestic companies will support their credit profiles, because this has led to a substantial lowering of debt.
In the past 18 months, 21 companies have announced 36 deals to divest assets and sell equity to strategic partners to raise Rs.800 billion -- which is nearly a fifth of their debt.
Expected policy reforms and a buoyant capital market should lead to more such transactions. Based on interactions, we expect companies to raise another Rs.600 billion at the very least in 2014-15. (Read full report)