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Inflation And Rate Hits Won't Knock Out India Inc.

India's companies and banks could feel the bite of rising rates and inflation. Credit profiles could deteriorate for up to 20% of Indian corporate debt, according to our stress test of more than 800 (mostly unrated) companies in India, representing US$570 billion in debt. But we do not expect large-scale defaults even in our stress scenario due to buffers in the economy and companies' financials.

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