Fitch Ratings

Both showed improved risk profile with better financial performance

Fitch assesses that the US indictment for alleged securities and wire fraud reflects a corporate governance risk

Fitch said the indictment for alleged securities and wire fraud reflects a corporate governance risk for AESL

The US indictment may lead to negative rating action in the near to medium term for Adani Energy

The company initially sold the notes, which had a maturity of three years and six months, in January, raising $325 million

IT services firm Wipro's revenue is likely to increase by about 4.5 per cent in FY26, mainly driven by favourable sectoral trends and recovery in discretionary customer spending, according to global rating agency Fitch. The agency retained Wipro's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'A-' with a stable outlook. "Fitch forecasts Wipro's revenue to increase by around 4.5 per cent in FY26 compared with a slight decline in FY25. We believe that the growth will be supported by a recovery in discretionary customer IT spending, particularly in the US, where customers will benefit from declining interest rates. "We expect customers in Europe to remain under pressure in a weaker economic environment and to focus on cost optimisation and efficiency improvement. There are early signs of revenue recovery in 3Q FY25 with IT services revenue rising by 0.6 per cent year-on-year," the agency said in a statement. Wipro will be able to maintain its solid market ...

Earlier this month, IIFL Finance reported an 8 per cent fall in loan assets under management to Rs 71,410 crore ($8.24 billion) for the first nine months of the fiscal year that ends in March

The Indian banking sector's NIM remains healthy at 3.5 per cent as of the first half of FY25, although it has declined from about 3.6 per cent in FY24, partly due to the upward repricing of deposits

Last week, the RBI started its rate-cutting cycle by lowering its key policy rate by 25 bps to 6.25 per cent and said it would be watchful and proactive with liquidity measures

Pakistan needs to repay over $22 billion in external debt in the fiscal year 2025, including nearly $13 billion in bilateral deposits, Fitch said

The rating agency expressed confidence in India's ability to stick to its medium-term fiscal framework and keep debt firmly on a downward path

In August, Fitch affirmed India's long-term foreign currency issuer rating at 'BBB-' with a stable outlook, citing a strong medium-term growth outlook

Robust growth, recoveries & write-offs to offset rise in slippages

Fitch has upgraded Vedanta Resources Ltd's (VRL) long-term foreign-currency issuer default rating following a "significant reduction" in the company's refinancing risks. The rating agency upgraded VRL's senior unsecured rating to 'B+' from 'B-' and also changed the outlook to stable, according to a statement. Besides, it has upgraded "the ratings on the USD 300 million June 2028 bonds and USD 500 million December 2031 bonds, issued by VRL's subsidiary Vedanta Resources Finance II Plc (VRF2), and unconditionally and irrevocably guaranteed by VRL, to 'B+' from 'B-' with Recovery Rating of 'RR4'," the statement said. The upgrade follows a significant reduction in VRL's refinancing risks, after it raised USD 1.1 billion in new bonds and received bank commitments for loans worth USD 350 million at the holding company, formed by VRL and other offshore investment holding companies owned by VRL, in January 2025, the statement said. Once the proceeds are used to refinance existing debt, the

The downside risks could materialise if energy prices rise significantly, given ongoing geopolitical risks, cautioned the rating agency

AGPL is the holding company of Azure RG3

The US credit rating agency places three Adani entities under Rating Watch Negative status

US prosecutors have charged billionaire Gautam Adani, the group's founder, his nephew Sagar Adani and six others for their alleged roles in a $265-million scheme

India remains committed to reducing the budget deficit over the medium term, despite its focus on higher public capex and demands of the coalition government, Fitch Ratings said on Tuesday. In a report, it said India has achieved or outperformed its budget deficit targets in the last few years, thereby improving its fiscal credibility. Fitch said India using RBI dividend to lower its fiscal deficit target for the fiscal year ending March 2025, reinforces its view that the country prefers fiscal consolidation over additional spending. Still, India's deficit, and interest-to-revenue and debt ratios remain high compared with the 'BBB' category sovereign peers, Fitch said. "...we believe its (India) government remains committed to reducing the budget deficit over the medium term, even amid the demands that governing in the coalition will impose on the newly elected administration - and despite the government's sustained focus on supporting economic growth through higher public capex,"

Reinsurers, which insure the insurers, have raised their rates in recent years in response to losses from the Covid-19 pandemic, wars and natural catastrophes