Moody's downgrades Ola parent ANI's rating to junk status
ANI Technologies, the company behind Ola, just got its credit rating cut to Caa1 with a negative outlook by Moody's.
Why? The company is struggling with cash flow and could break the rules on a $65 million loan if it doesn't find new funding or refinance soon.
Even though ANI has about $90 million in cash, Moody's says that won't last through 2026 unless something changes.
Ola is losing ground to rivals like Uber and Rapido
Ola isn't just fighting to keep up financially—it's also losing ground to rivals like Uber and Rapido, which is making things tougher.
To turn things around, ANI is thinking about an IPO and selling its 3.64% stake in Ola Electric (worth around $85 million).
But with falling revenue and ongoing losses, the pressure is on for one of India's biggest ride-hailing brands—so if you use these apps or follow startup news, this shake-up could hit close to home.