Bond market warms up to NBFCs, but India's top-rated companies benefit

India’s top-rated private and government-owned companies may be enjoying record low rates in markets for their short-term money, but the situation has not improved much for lower-rated firms, particularly in the financial sector. However, sporadic issues of bonds have begun. The liquidity situation for non-banking financial companies (NBFCs), which had been facing a crunch on this front for some time now, is improving. But even in this segment, the benefit has mostly gone to well-rated companies which have started issuing debt papers in larger numbers.   Financial c.....

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