Page 10 - Fitch Ratings

Indian pharma companies' sales to rise after resilience in FY21: Fitch

Indian pharmaceutical companies' sales will grow robustly in the financial year ending March 2022 (FY22) as sales normalise in categories affected by the pandemic in previous year, Fitch Ratings said

India's bank privatisation may face hurdles amid Covid-19: Fitch

Political resistance; stress from pandemic may drag

Second Covid-19 wave impact manageable for most of India Inc: Fitch

'Weaker domestic demand is a key channel of risk transmission for businesses. However, lockdowns in 2021 have been less stringent,' says the rating agency

Indian cement makers' price hikes to support margins: Fitch Ratings

The recent price increases by India's cement companies will counter the higher energy costs: Fitch

Fitch affirms India's rating at 'BBB-'; outlook negative due to Covid surge

A resurgence in Covid-19 in the country has increased downside risks to growth

Fitch revises positive outlook on Future Retail Ltd, affirms rating at 'C'

Fitch Ratings has affirmed Future Retail Ltd's (FRL's) issuer default rating at 'C' and the rating on its USD500 million 5.6 per cent senior secured notes due 2025 at 'C'

Top headlines: Fitch warns banks over second Covid wave; Prince Philip dies

Business Standard brings you top news of the evening

Fitch upgrades India's GDP growth to 12.8% for FY22

Fitch said revision is on the back of 'a stronger carryover effect, a looser fiscal stance and better virus containment'

Progress on BPCL privatisation, but need for further clarity: Fitch Ratings

There is need for further clarity on the future of subsidies paid to BPCL customers on the sale of LPG, kerosene as well as the freedom on pricing of petrol, diesel before the divestment can conclude

Fitch affirms IIFL Finance's rating at 'B+'; outlook stable

Fitch sees sufficient headroom at the current rating to absorb further downside risk, says the ratings agency

Emerging markets bank support robust despite resolution regimes: Fitch

Government support for banks in emerging markets is unlikely to weaken materially despite greater adoption of bank resolution regimes, Fitch Ratings has said

Adani Ports credit profile unaffected by Gangavaram Port acquisition: Fitch

The company says the proportion of cargo from western and eastern coasts will shift to 60 percent and 40 percent respectively from 67 percent and 33 percent currently

Expect moderately worse banking sector outlook for next fiscal: Fitch

The plan is well below Fitch's estimated capital requirement of USD 15 billion to USD 58 billion under varying stress scenarios

Covid-19 pandemic impact will pose challenge to Indian banks in FY22: Fitch

Indian banks, particularly state banks, remained more risk-averse than in prior years, which was reflected in their weak credit growth

Reliance's proposed business reorganisation credit neutral: Fitch

Fitch Ratings said on Tuesday the proposed reorganisation plan by Reliance Industries Ltd (RIL) to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary as a step towards facilitating participation by strategic investors in its O2C businesses."We anticipate the reorganisation will have a neutral impact on RIL's credit metrics and rating," it said.The transfer will be on a slump sale basis subject to attaining the requisite approvals. The consideration for transfer will be in the form of long-term interest-bearing debt of 25 billion dollars to be issued by O2C to RIL.RIL's external debt is proposed to remain with RIL only. As RIL moves its oil refining, petrochemical and 51 per cent stake in a fuel retail subsidiary -- among other businesses -- to O2C, it will continue to hold businesses like textiles and upstream oil & gas, and will act as an incubator for new growth businesses.The proposed reorganisation eases formation of

India's Budget points to a loosening of fiscal policy: Fitch Ratings

The Budget points to a loosening of fiscal policy to support the country's ongoing economic recovery from the pandemic and will consequently lead to a rise in public debt, Fitch said

India's medium-term growth outlook critical in ratings, says Fitch

Agency says loosening of fiscal policy to support economic recovery will lead to a rise in public debt, adding that debt-to-GDP trajectory is core to its sovereign rating assessment

Strong performance by Jio, Bharti to buoy telecom growth for FY21: Fitch

The Indian telecom industry's mobile segment is expected to log EBITDA growth of at least 40 per cent in the current fiscal year, higher than 25 per cent in 2019-20

Strong performance by Jio, Bharti to buoy telecom industry for FY21: Fitch

The Indian telecom industry's mobile segment is expected to log EBITDA growth of at least 40 per cent in the current fiscal year, higher than 25 per cent in 2019-20

Fiscal deficit may invite rating agencies' ire, Fitch may downgrade: Report

Global rating agencies may view the fiscally expansive budget proposals negatively, a brokerage said