MUMBAI : Bank loans of top 100 Indian companies totalling 1.9 trln-2.1 trln rupees are due for refinancing in next 12-15 months, India Ratings said in a report, adding that the refinancing of these loans will pose a significant challenge as a fifth of these companies are in distress.

The prevailing economic slowdown was also cited as a key reason by the ratings agency which will pose underwriting challenges to lenders to refinance the amount.
Gammon India Ltd, Kingfisher Airlines Ltd, Essar Steel Ltd, Lanco Infratech, Aban Offshore Ltd, and Bombay Rayon Fashions Ltd, among others, are the companies which fall in the ‘stressed’ category, the ratings agency said.

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