Moody's Investors Service on Friday warned that the rout in Adani Group shares could hurt the conglomerate's ability to raise capital, while its peer Fitch saw no immediate impact on its ratings. Adani Group's listed companies have lost over USD 100 billion in value in just over a week after short-seller Hindenburg Research's scathing report flagged concerns about the ports-to-energy conglomerate's debt levels and alleged stock manipulation, accounting fraud and the use of tax havens.
Moody's Investors Service on Monday said the bank capital will moderately fall in emerging Asia over the next two years, with India seeing larger capital decline without further infusion. In a report, Moody's said the uncertain trajectory of asset quality is one of the biggest threats for emerging market banks, as operating conditions remain challenging amid the current COVID pandemic.
Forget smarts or cheek, there's little novelty to be found in Jewel Thief's juvenile script, barring its now free usage of the F-word to make it sound all hip and adult, observes Sukanya Verma.
Moody's Investors Service on Monday said it has assigned a first-time B3 corporate family rating (CFR) to ANI Technologies, which operates ride hailing service Ola. Moody's CFRs are opinions of a corporate family's ability to honour all of its financial obligations. It has also assigned a B3 rating to the company's proposed senior secured term loan.
The economic impact of the Omicron variant of COVID-19 on emerging economies will depend on a mix of government restrictions, public comfort with social interactions, and capacity of governments and central banks to provide additional policy support to the private sector, Moody's Investors Service said on Wednesday. The emergence of the new variant poses new risks to the global economic growth and inflation outlook, as concerns mount about the variant's health risks and several countries have imposed new travel restrictions in recent days. These restrictions will likely increase over the coming weeks until scientists learn more about the variant, it said.
For 2020 calendar year, it reduced the estimate by a similar measure to 6.7 per cent.
Moody's Investors Service on Thursday said second wave of Covid infections has increased asset risks for Indian banks, but a severe deterioration is unlikely. It said that the second wave of coronavirus infections in India has exacerbated stress among individuals and small businesses that were hit the hardest by the initial outbreak. Still, a number of factors will prevent sharp increases in problem loans, and banks have sufficient buffers to absorb anticipated loan losses.
The global ratings agency, however, cautioned that high debt burden remains a constraint on the country's credit profile.
.jpg)
The rupee had slumped to a record low of 59.9850 rupee to the dollar on Thursday, as the country's record high current account deficit is exacerbating its vulnerability in an emerging market rout.
Moody's Investors Service on Thursday said India is likely continue to face challenges in raising longer-term growth potential and creating enough jobs for its young population in the absence of higher trade openness. In its report on South Asia sovereigns, Moody's said compared with other South Asian economies, India appears to be in a better position to deepen its integration in global value chains, attract FDI and increase exports. The country has better macroeconomic fundamentals, more stable politics and a more developed export sector.
Moody's expected economic activity to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent, respectively.
The second wave of COVID-19 may have a more lasting damage on the Indian economy and exports will once again be the foundation for recovery, Moody's Analytics said on Monday. In its report titled 'APAC Economic Outlook: The Delta Roadblock', Moody's Analytics said social distancing is weighing on the current quarter, but economic recovery will resume by the year-end. The Delta variant of COVID-19 is among factors now adversely affecting economies of the Asia-Pacific (APAC) region, but the economic hit from the current round of movement restrictions in the region will not be as severe as the recessions in the second quarter of last year.
Moody's Investors Service on Wednesday slashed India's growth projection to 9.6 per cent for the 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter.
Moody's on Thursday said the new 'inflation targeting' mechanism is a "credit positive" move.
Moody's said domestic growth will offset global headwinds.
Moody's assigns a 'Baa3' rating on India, with a stable outlook.
Moody's Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to 'stable' from 'negative'. This follows the upgrade by the US-based rating agency in India's sovereign rating outlook to 'stable' from 'negative' on Tuesday. The agency had affirmed the sovereign rating at 'Baa3'.
This period saw big stars of the likes of Sunil Gavaskar and Kapil Dev fade into the sunset while it was witness to the birth of slew of young Indian cricketers that made their mark home and abroad.
Finance Minister Arun Jaitley presented his maiden budget last week in which he vowed to contain fiscal deficit at 4.1 per cent this year and lower it to 3 per cent by 2016-17.
Higher food prices can accelerate broader inflation by pushing up wages, while negatively impacting the government finances and reducing monetary policy flexibility, Moody's said in a report.
Any downward revision from the current 'Baa3' rating means junk status for the country.
But says govt finances the weakest aspect of the country's macroeconomic profile.
Telcos in Asia's emerging markets will face higher spectrum liabilities, but these essential costs are not subject to refinancing and have limited immediate impact on cash flows and liquidity, Moody's Investors Service said on Monday. The ratings of Asia-Pacific (APAC) telecom companies in emerging markets can tolerate the increased deferred spectrum liabilities at current levels, if these essential costs are the main driver of high debt or weaker leverage, Moody's Investors Service said in a new report. For emerging markets -- China, India, Indonesia, Malaysia and Philippines -- spectrum liabilities to gross debt will increase to more than 16 per cent in 2021 and 2022, from 11.6 per cent in 2020 and 9.3 per cent in 2018, assuming India completes its 5G spectrum auction in 2022, it added.
Smith, considered one of the best batsmen in international cricket, could managed just 10 runs in the four innings he has played so far in the series and Moody said he is overdue for a big score.
While current coach Anil Kumble is an automatic entry into the process, the others in the fray are Australian Tom Moody and Englishman Richard Pybus.
Top losers in the Sensex pack included Sun Pharma, Vedanta, ONGC, TCS, HUL, ITC, NTPC, Asian Paints and Infosys, shedding up to 4.23 per cent.
The global rating agency has, however, cautioned that India's fiscal position remains 'weak'.
It said banks' asset quality will deteriorate across the corporate, small and medium enterprises and retail segments, leading to pressure on profitability and capital.
The government's fiscal deficits have reduced over the last five years.
Moody's currently assigns 'Baa3' rating on India, with a stable outlook. 'Baa3' means medium grade with moderate credit risk.
Moody's expect RBI to hold policy 'repo' rate steady to have a neutral stance in this growth
Moody's on Sunday said any upgrade for the country will depend on consistent improvement in inflation, fiscal deficit and other economic parameters.
The 'P-3' ratings suggest acceptable ability to repay short-term obligations.
Govt to strongly pitch for better rating, to argue India has successfully weathered its problems and govt capacity on growth remains high.
The opinion of a Junior Associate Economist employed with Moody's Analytics has been splashed all across implying it as the opinion of Moody's Analytics.
The outlook for India's rating would improve if fiscal, inflation and infrastructure metrics get better, a global report said.
The Reserve Bank's tight monetary policy is likely to moderate the growth rate of Indian economy in the second half of the current calendar year, the economic analysis arm of international rating agency Moody's has said.
The economy is projected to clock 7.4 per cent growth.
.jpg)
A higher subsidy burden and lower growth will weaken the country's fiscal metrics, analyst Atsi Sheth said in the presentation.
Awestruck by Mahendra Singh Dhoni's swashbuckling knock against Sunrisers Hyderabad, former Australia all-rounder and Hyderabad coach Tom Moody says India is 'very lucky' to have the 31-year-old 'special' cricketer as captain.
