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Moody's downgrades Lodha Developers rating on weak sales

Updated : January 29, 2019 06:27 AM IST

The agency affirmed its rating on the city based builder at B2, but downgraded its outlook to "stable" from the "positive" earlier.
The agency said it expects Lodha's operating sales in fiscal year 2018-19 to be 25 percent lower than what it had achieved in the previous 12 months, and 38 percent lower than what it had expected.
Moody's downgrades Lodha Developers rating on weak sales
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