Fitch Rating

Asset quality pressures intensifying in India, emerging markets: Fitch

Lower interest rates, robust economic conditions to bolster near-term asset quality

Fitch affirms 'BBB+' rating on Larsen & Toubro with stable outlook

Fitch Ratings said it has affirmed 'BBB+' rating with stable outlook on Larsen & Toubro and stressed that the ratings indicate strong financial structure and sound financial flexibility of the company. "Fitch Rating has assigned India's Larsen & Toubro Limited (L&T) first-time Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of 'BBB+'. The Outlook is Stable," the rating agency said in a statement on Tuesday. The ratings reflect the company's strong market position as a large global engineering and construction company with above-average profitability and solid revenue visibility. "We believe L&T's robust record of steady margins, which is backed by adequate risk management and diversification into stable and high-margin IT and technical services businesses, buffers its ratings against the inherent risks in the E&C (engineering and construction) sector," it said. The credit rating agency further said that the stable outlook reflects its view that .

Sustained fiscal deficit reduction positive for India's ratings: Fitch

Fitch Ratings said in a press statement that this dividend would help India in meeting the fiscal deficit target of 5.1 per cent of GDP for FY25

Banks' underwriting standards at risk amid consumer loan growth: Fitch

Fitch Ratings on Monday said Indian banks' risk appetite through higher loan growth will remain a key consideration for their creditworthiness despite improved financial performance. It said asset quality pressures from the previous credit cycle are subsiding, creating a favourable business environment. This has bolstered banks' potential and appetite for growth. Bank loans grew by 16 per cent in the financial year ended March 2024, similar to FY23, exceeding the 8 per cent CAGR (compound annual growth rate) over FY15-FY22. Retail loans constitute around 10 per cent of system loans, and grew at a 20 per cent CAGR since FY21, fuelled by a shift towards unsecured credit to expand margins, the US-based rating firm said. Large private banks gained significant market share in the last credit cycle and continue to grow rapidly; state banks also returned to brisk growth but lagged large private banks, Fitch said in a report titled 'Risk profile weighs on Indian banks' viability ratings ..

Indian banks' operating environment strengthens as Covid risks ebb: Fitch

With banks shoring up their capital buffers and cleaning up their balance sheets following the pandemic, their gross non-performing asset ratio has fallen to a 10-year low of 3.9% as of March 2023

Fitch's US downgrade is advantage gold, retail investors can book profits too

The downgrade of the U.S. credit rating to AA+ can have significant implications for the financial markets, both domestically and globally

Here's why Sensex tanked over 900 points in Wednesday's intra-day trade

All sectors, meanwhile, nosedived in the sea of red, with Nifty Metal, Nifty PSU Bank, and Nifty Oil & Gas as some of the worst performers

Fitch says, two Adani entities facing 'heightened contagion risks'

(Reuters) -Ratings agency Fitch said two Adani Group subsidiaries were exposed to "heightened contagion risks", possibly affecting their financial flexibility

No immediate impact from Hindenburg on Adani firms' credit profiles: Fitch

Rating agency will be monitoring group firms closely for major changes in their access to finance, the cost of financing, regulatory/legal developments and ESG-related matters

TCS revenue growth likely to slow down in FY24, says Fitch Ratings

After strong 3QFY23 results, TCS NSE 0.19 % (TCS NSE 0.19 %) revenue growth is likely to slow in financial year ending March 2024 (FY24) amid the global economic slowdown, according to Fitch Ratings

Indian commercial vehicle sector to log volume growth: Fitch Ratings

The CV sector will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report

Risk to India's sovereign rating from external pressures limited: Fitch

Country relatively insulated from volatility due to limited reliance on external financing, says rating agency

Fitch affirms Bank of Baroda, subsidiary at 'BBB-' with stable outlook

Action factors in a high likelihood of sovereign support to the public sector lender; rating agency says profitability to rise further; high loan growth to resume

Fitch affirms Bangladesh's issuer default rating at 'BB-'; outlook stable

The rating reflects Bangladesh's strong growth prospects, government debt that is below the 'BB' median and a manageable external debt repayment profile

Fitch cuts India FY23 GDP growth forecast to 7%; world GDP growth at 2.4%

At a more macro level, Fitch now expects world GDP to grow by 2.4 per cent in 2022 - revised down by 0.5 percentage points (ppt) since the June assessment

Fitch affirms rating for 4 NBFCs, maintains stable outlook for all

The financial condition of Shriram Transport Finance, Muthoot Finance, Manappuram Finance and IIFL Finance is satisfactory, says agency

Fitch downgrades Jubilant Pharma to "BB-" indicating higher default risk

Rating agency foresees firm's financial leverage worsening as a rise in capex will coincide with lower profitability

Utility vehicles' share in sales expected to rise steadily: Fitch Ratingss

Share of utility vehicles in car sales expected to be on an upward trajectory amid growing popularity of such vehicles and automakers' reduced focus on compact hatchbacks owing to rising production

Relief to only postpone financial stress from India's Covid surge: Fitch

There are growing indications that India's latest wave of Covid-19 infections will add to risks among financial institutions by sapping near-term momentum from the economic recovery

Coronavirus updates: Delhi second most-affected state; drug for patients

Donald Trump may announce foreign workers' visa restrictions today, protect Americans struggling with a job market devastated by the coronavirus pandemic