Default rates among corporate bond issuers to rise in medium term
However, the annual default rates for firms rated by Crisil dropped to 2% in FY21 despite the pandemic
According to Crisil, there have been two defaults from the AA category on account of the pandemic
MUMBAI : Mumbai: Rating agency Crisil expects default rates among corporates issuing debt instruments to rise going forward as pandemic-induced regulatory measures get phased out. That said the annual default rates for firms rated by Crisil rating dropped to 2% in fiscal year 2021 notwithstanding the pandemic, owing to various regulatory measures, it said. The default rate for fiscal year 2020 stood at 4.5%, according to the report.