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Moody’s Investors Service, a global rating agency, has assigned a (P) Ba3 corporate family rating for Lodha Developers (LDPL) that means the outlook is stable. The international rating agency has also assigned a provisional (P) Ba3 rating to the proposed dollar-denominated notes to be issued by Lodha Developers International (Mauritius), a wholly owned subsidiary of LDPL. The stable outlook reflects Moody’s expectation that LDPL will substantially achieve its sales targets, execute its construction plans without material delays, and stay disciplined in acquisitions for its land bank over the next 2-3 years.
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