Debt Market Review For August: CARE Ratings
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CARE Ratings Research Report
The market borrowings of the central government were lower in August than a month ago, while that of the state governments was higher.
Borrowings by corporates have been higher during the month, indicative of a pick-up in activity levels.
Corporate bond issuances in August were the highest since the start of FY22 and bank credit offtake also improved with the contraction in incremental offtake easing.
While the cost of longer-term borrowing softened on a monthly basis for the state government, it rose for the central government.
In case of corporates, the cost of short term as well as long term borrowings from the debt capital markets was lower in August 2021 versus July 2021.
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