Fitch Ratings on Monday said India's pace of debt reduction is gradual, leaving room for a downside risk to sovereign rating in the eventuality of a significant economic shock. However, the rating agency expressed confidence in India's ability to stick to its medium-term fiscal framework, which aims to reduce debt and bring it on a downward trajectory over time.
The ties between India and the Maldives came under severe strain since Muizzu, known for his pro-China leanings, took charge of the top office in November.
Investor wealth on Tuesday swollen by over Rs 1 lakh crore on all-round buying in stock market after credit rating agency Moody's said India's outlook is stable and agreement over debt relief package to Greece that boosted markets globally.
International credit ratings agency Moody's Investors Service changed its outlook for India's banking system to negative from stable due to concerns that an increasingly challenging operating environment will adversely affect asset quality, capitalisation, and profitability.
Moody's statement comes on a day when opposition parties are observing nation-wide strike to protest against the price hike and government's move to operationalise its decision on allowing foreign direct investment in multi-brand retail.
Besides corruption, the agency mentioned bureaucratic logjam and slow pace of judicial decision-making as factors hindering the Indian economy.
An Indian-origin former analyst has been accused of providing confidential company information in the Raj Rajaratnam-led insider trading scheme, has been fined $34 million for his role in the scheme.
Sequel to firm's announcement of cut in K-G gas reserves after long decline in output; agency says it expects decline in cash flows.
Credit ratings agency Moody's on Monday said the Reserve Bank of India's recent move to hike short-term borrowing and lending rates to tame inflation will put pressure on overall deposit and interest rates.
"The hike in RBI's provisioning requirements is likely to have a significant impact on profits over the short term, especially for those banks that currently have relatively low NPL provision cover ratios," Moody's said.
Moody's has predicted a slow growth rate for India's industrial sector in 2008.
The trade deficit has widened by 61 per cent to touch $25,619.85 million in the first four months of the current fiscal, against $15,841.22 million a year ago, according to official figures.
"The downgrade would mean they would have no buyers for their debt papers. It would also impact borrowing from overseas banks," said a Mumbai-based analyst.
Following the insertion of Corus Group on Tata Group's balance sheet, global credit rating agency Moody's has downgraded Tata Steel Ltd's corporate family rating from investment to speculative.
This is lower than the country's growth rate of 6.7 per cent for the financial year 2008-09.
"With the US recording two successive quarters of weak growth, we anticipate Asia will soon begin to feel the pinch of slower demand across the Pacific," said Daniel Melser, senior economist in Moody's Economy.com, a unit of Moody's Corporation. If history is a guide, then expect export numbers around the region to begin sliding in the second and third quarters of 2008, Moody's Economy.com said in its latest report.
Credit rating agency Moody's on Monday appointed Chetan Modi as the head of its India operations.
Ruling out any change in India's sovereign rating due to a political standoff over the Indo-US nuclear deal, credit rating agency Moody's on Wednesday said the crisis was not serious enough to dent the country's economic policy framework.
Credit rating agency Moody's Investors Services said on Monday that it had upgraded India's country ceiling for foreign currency debt to Ba1, the top of the speculative grade, from Ba2 due to a substantial improvement in the external liquidity.
Credit rating agency Moody's Investors Service on Friday assigned senior implied issuer ratings of Ba1 to India's Tata Power and Indian Oil Corp -- one notch above the sovereign rating it assigns to India.\n\n\n\n
Moody's has revised to positive the outlook on the long- term ratings of private sector lenders
India's economic growth rate in the January-March quarter is likely to slip to 7.2 per cent q-o-q.
The agency said that over the next two years new NPL formation rates would witness a gradual decline.
Volkswagen is looking at ways to cut costs and boost cash flow.
Moody's said it reflects India's weaker performance on fiscal.
The agency noted that the reviews of these banks' sub-debt ratings were not indication of any change in the affected banks' fundamental credit quality.
Novelis is expected to come out with its March quarter earnings on Friday and a decision on its rating will follow soon after.
India's economic growth accelerates to 7.4% in Sept quarter
Credit rating agency Moody's changed Formula One's outlook to negative from positive on Thursday to reflect the impact of the coronavirus crisis on a global sport that has yet to race in 2020.
RBI may hold rates steady as economic parametes are going strong, say experts.
Petrol and diesel prices on Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar, making imports costlier
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
Anaysts recommend a 'buy' on Icra due to its positive outlook.
Anaysts recommend a 'buy' on Icra due to its positive outlook.
Sensex eneded lower on poor perfromance by financials and IT stocks.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
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