Page 15 - Fitch Ratings

Coronavirus impact: Fitch cuts India growth forecast to 5.1% for FY21

The difficulties facing the Indian economy have been exacerbated by Yes Bank failure, it said

Top headlines: S&P cuts India's growth forecast; updates on Covid-19 cases

From RBI considering relaxing bad loan rules to DoT's appeal for AGR relief to telcos, Business Standard brings to you the top headlines of the day

RBI may cut key interest rates by 175 bps in FY21 to tackle slowdown: Fitch

It forecast India's real GDP growth to pick up slightly to 5.4 per cent in 2020-21, from its estimate of 4.9 per cent in the current fiscal.

Crisis at YES Bank highlights governance risk in banking sector: Fitch

The central bank's takeover of Yes Bank appears intended to restore depositor confidence

Fitch removes Bharti Airtel from 'Watch Negative', affirms 'Stable' outlook

Bharti has already paid Rs 10,000 crore towards AGR payments

Easier RBI asset quality norms puts banks at risk, mar transparency: Fitch

The new rules signal a shift away from enhancing asset classification

Moody's Investors Service, Fitch Ratings give stable outlook to IIFL

The agency has also assigned a 'BB-' rating to IIFL's USD 1-billion medium-term note (MTN) programme

AGR ruling to impact Voda, Airtel; banks will also be hit: Fitch Ratings

The apex court's ruling will also have significant repercussions for India's banking sector as well as the country's broader economic outlook: Fitch Ratings

Fitch says HPCL refining margins to fall by one-third in current fiscal

Fitch affirmed HPCL's rating 'BBB-' with stable outlook, in line with the credit profile of its largest shareholder Oil and Natural Gas Corp Ltd

Fitch cuts India's GDP growth to 4.6% as credit crunch cripples economy

The rating agency sees moderate fiscal slippage, retains sovereign rating and outlook

Top headlines: M&M's board rejig, Fitch lowers India GDP growth, and more

In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of CEO for a year

Fitch affirms Bank of Baroda's IDR at 'BBB-'; VR off rating watch negative

The lender's performance is likely to stay subdued on weak economy, NBFC stress

Fitch revises outlook on Vedanta-led Cairn India from stable to negative

Oil and gas business is the second-largest contributor to Vedanta's EBITDA, after the Indian zinc operations

Indian banks' NPA write-offs to continue amid low recoveries: Fitch Ratings

The state-owned banks account for a dominant share (around 90 per cent) of impaired loan stock and have cumulatively written-off nearly 30 billion dollars in bad loans over the past three years

Banks need Rs 50,000 cr additional capital to support loan growth: Fitch

Fitch said the rating outlook for most Indian banks mirrors the stable outlook on India's sovereign rating

Liquidity pressures faced by NBFCs, HFCs, to continue: Fitch Ratings

Liquidity pressures faced by the non-banking financial sector following the IL&FS failure are likely to continue though funding costs have come off the peak, Fitch Ratings said on Friday. "We view wholesale and housing finance companies (HFCs) as more vulnerable -- given their higher leverage, weaker asset-and-liability maturity (ALM) profiles and higher concentration risks. Large retail finance companies with well-managed ALM profiles should continue to access bank and capital markets funding. Further, funding diversification in the offshore markets by larger issuers would benefit their funding profiles," it said in its outlook for emerging market finance and leasing companies. Indian finance and leasing companies are likely to grow at a slower pace in 2020 than in prior years, amid weaker economic growth and liquidity constraints, it said. Fitch said its 2020 sector outlook is underpinned by challenging operating environments, lower growth prospects, and rising funding pressure.

Moody's cuts India's credit outlook to negative; govt not convinced

Outlook downgrade comes 2 yrs after ratings upgrade. Govt says fundamentals remain strong

Fitch raises India's FY20 fiscal deficit to 3.6% of GDP on sluggish growth

Fitch said it was revising the fiscal deficit forecast as revenue collection is likely to fall far short of the projections in the FY20 Union Budget due to weak GST collections

Fitch places Bharti on rating watch negative after top court's ARG ruling

RWN resolution may take over six months as it requires clarity on exact amount and timing of payment of dues and whether govt will provide financial relief to telecom sector

Fitch Rating slashes India's GDP growth forecast to 5.5% for FY20

Weakness has been fairly broad-based, with both domestic spending and external demand losing momentum, Fitch said