SINGAPORE : The aggregate earnings before interest, taxes, depreciation and amortisation (EBITDA) for 22 rated Indian non-financial companies will fall by 24 per cent in the current financial year, global rating agency Moody's said on Friday.Their credit metrics will weaken as coronavirus-led economic contraction reduces corporate earnings and debt/EBITDA leverage will increase by half a turn to around 4x.Credit quality is weakening across most sectors as a slowing economy dampens consumer confidence and business activity.
Moody's Investors Service said India's real GDP will contract by 11.5 per cent in fiscal 2021."Still, we expect fiscal 2022 earnings to recover as economic growth returns.