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SUMMARY
Moody’s has downgraded Ola parent ANI Technologies’ corporate family rating to Caa1 from B3 and the rating of guaranteed senior secured term loan borrowed
The company cited weak operating performance and risks of covenant breach as the reason for the downgrade
Citing the intense competition in the Indian ride-hailing space, Moody’s said ANI Technologies is expected to continue to burn cash over the next 12 months
Credit ratings agency Moody’s has downgraded Ola…
