Page 4 - Credit Rating

New credit rating rules could see 100 Indian ICRA-rated firms downgraded

The companies likely to be affected are mostly in the power, healthcare, engineering, construction and roads sectors

Bank credit grows by 13.3%, deposits by 9.7% in fortnight ended on July 1

Bank credit grew by 13.29 per cent to Rs 123.81 lakh crore and deposits by 9.77 per cent to Rs 169.61 lakh crore in the fortnight ended on July 1, RBI data showed. In the fortnight ended June 2, 2021, bank advances stood at Rs 109.28 lakh crore and deposits at Rs 154.51 lakh crore, according to the Scheduled Banks' Statement of Position in India as on July 1, 2022, released on Thursday. In the fortnight ended June 17, 2022, bank credit grew by 8.31 per cent and deposits by 12.05 per cent. In FY22, bank credit rose by 8.59 per cent and deposits by 8.94 per cent.

S&P affirms ICICI Bank's 'BBB-' rating on improved asset quality

As S&P affirms ICICI Bank's BBB rating, an upgrade over the next one to two years is unlikely as that would require an improvement in the bank's financial profile

S&P downgrades Future Retail to 'D' after company fails to clear dues

Future Retail Ltd failed to make the principal payments due on its restructured domestic bank borrowings on December 31, 2021.

Credit rating agencies still vulnerable to new biz risks, say experts

Agencies insist they have improved supervision and governance

Brickwork Ratings could face Sebi ire over lapses in credit rating process

Brickwork Ratings is one of the seven Sebi-registered credit rating agencies (CRA). The other six being Care, ICRA, Crisil, Fitch and Infomerics Ratings and Acuite Ratings & Research

Statsguru: Charting key factors, challenges behind India's credit ratings

Moody's Investors Service changed its outlook from negative to stable on October 5

MTAR Technologies rallies 11%, hits all-time high on heavy volumes

On Tuesday, CRISIL upgraded the credit rating on the company's long term bank facilities to A-/Stable from BBB+/Positive and short term bank facilities to A2+ from A2

India Inc's credit profile gets stronger during Covid-19 pandemic

But rating agencies warn that broad-based upturn not visible yet

IDBI Bank hits 52-week high, rallies 24% in 4 days on rating upgrade

The bank in an exchange filing said ICRA has upgraded its existing rating to ICRA A+ from ICRA A for Infrastructure bonds, Flexi Bond, Senior & Lower Tier II bonds and Subordinate debt

Acuite Ratings to incorporate ESG norms into its credit ratings

ESG in Credit Risk and Ratings Statement is supported by over 170 investors who have nearly $40 trillion Assets Under Management and 27 credit rating agencies over the world

Credit rating agency India Ratings downgrades Ford India's ratings

Credit rating agency India Ratings and Research, downgraded Ford India Private Ltd's long term issuer rating to 'IND A+' from 'IND AA-'.

Fitch assigns stable outlook to ReNew RG II's $525 million notes at BB

Fitch Ratings has assigned a stable outlook to ReNew RG II's $525 million senior secured notes due in 2024 and affirmed the rating at BB.

Fitch affirms Glenmark Pharmaceuticals at BB with a stable outlook

Fitch Ratings has affirmed Glenmark Pharmaceuticals Ltd's long-term issuer default rating at BB with a stable outlook

Indian banks will face heat of second Covid wave in H1 of FY22: S&P

Credit losses should remain high at 2.2 per cent before recovering to 1.8 per cent, says rating agency.

Fitch affirms gas utility GAIL India at BBB-minus with negative outlook

Fitch Ratings has affirmed GAIL India Ltd's long-term foreign-currency issuer default rating at BBB-minus with a negative outlook.

A new structure of financial regulation

One of the most egregious recent cases of misconduct is the behaviour of credit-rating agencies.

Crisil downgrades BHEL credit rating on long-term bank facilities

The rating on short-term facilities has been reaffirmed at A1-plus.

S&P revises ICICI Bank credit rating outlook to stable from negative

S&P Global Ratings on Friday said it has revised the rating outlook on ICICI Bank Ltd to stable from negative on grounds that the lender will benefit from the sale of stake in subsidiaries. The rating agency affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on ICICI Bank. "We revised the rating outlook to reflect our view that ICICI Bank will maintain its strong capital position over the next 24 months. The bank will benefit from the sale of a stake in subsidiaries and gradual normalization of earnings, which should reduce risks associated with its capital position," it said. In a statement, S&P forecast that ICICI Bank will maintain a risk-adjusted capital (RAC) ratio of more than 10 per cent over the next 24 months. "Our expectation factors in 13-14 per cent credit growth for the bank, an improvement in earnings, and sale of stake in insurance subsidiaries over the period," it said. ICICI Bank's stressed loans (non-performing loans and restructured ...

Rating agencies come together to represent Indian rating industry

Currently, there are seven credit ratings agencies registered with SEBI