Business Intelligence and Investigations
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Tarun Bhatia, Managing Director in the Business Intelligence and Investigations practice at Kroll, a division of Duff & Phelps, recently commented in DNA India on the credit issue faced by tea plantation companies in India. Slow market demand and reduced market prices for tea have put tremendous pressure on the tea plantation industry. The default of McLeod Russel India has triggered rating agencies to downgrade its outlook and the ratings of this industry.
"Rating actions are cyclical and not very different from the economic environment. Many companies are defaulting are due to slow demand. In addition, they don't have the kind of credit line they used to have. Access to credit is tighter," Tarun said.
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