Fitch: Debt restructuring imminent in Indian cotton textile
1/14/2012 1:38:27 PM
MUMBAI: Fitch Ratings says cash losses in the Indian cotton textile sector are impairing the debt servicing capacity of manufacturers, making debt restructuring imminent. The agency also notes that while the Indian government's debt restructuring proposal for the textile sector will provide temporary relief from liquidity pressures, it will not stem deterioration in the capital structure of cotton textile companies, most of which are heavily-geared.
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