Page 5 - Fitch Ratings

US AAA credit rating may be downgraded by Fitch on debt-limit impasse

Economists project a US default could trigger a recession, with widespread job losses and a surge in borrowing costs

Fitch says outlook for Tata Steel positive, stable for JSW Steel

Rating for companies based on their EBITDA growth and improved finances

ED searches may tarnish Manappuram's business prospects: Fitch report

Fitch Ratings on Wednesday said the recent search by the enforcement directorate at gold-backed lender Manappuram Finance highlights corporate governance challenges that can arise in emerging markets like India. "Such searches need not lead to further regulatory action, but investigations raise reputational risk that could tarnish a lender's business prospects and constrict funding access due to reduced market confidence - potentially affecting an issuer's credit profile - even if no wrongdoing is identified," Fitch added. The rating agency said Manappuram Finance Ltd has disclosed that the Enforcement Directorate's search at its premises pertained to legacy non-compliant activities at its branches up until 2012. Such searches are relatively rare, and can flag potential governance risks, but the activities the company has identified thus far as being involved are publicly known and Fitch has already factored them into its rating, "including our assessment of the company's corporate

India's economic growth prospects have brightened, says Fitch Ratings

Agency says robust growth outlook offset by weak public finances

Fitch affirms India's sovereign rating at 'BBB-' on robust growth outlook

Fitch Ratings on Tuesday affirmed India's sovereign rating with a stable outlook saying the country has a robust growth outlook and resilient external finances. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," it said in a statement, adding strong growth potential is a key supporting factor for the sovereign rating. "India's rating reflects strengths from a robust growth outlook compared with peers and resilient external finances, which have supported India in navigating the large external shocks over the past year," Fitch Ratings said. However, these are offset by India's weak public finances, illustrated by high deficits and debt relative to peers, as well as lagging structural indicators, including World Bank governance indicators and GDP per capita, it added. The agency has kept kept India's credit rating unchanged at 'BBB-' -- the lowest investment grade rating -- since August 2006. Fitch Ratings fore

Adani Transmission, Adani Ports exposed to contagion risks: Fitch Ratings

Most Adani group stocks recovered some lost ground on Wednesday after a heavy sell-off a day earlier amid reports of the group's ability to service the debt levels.

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

Indian corporates likely to see 10%-12% capex growth in FY24: Fitch

The rising capital expenditure trend of Indian corporates is likely to continue and grow at 10%-12% a year during the next fiscal year to March 2024, Fitch Ratings said in a release on Tuesday

Fitch Ratings affirms Adani Ports rating at 'BBB-'; outlook stable

Hindenburg report allegations have limited near term impact

Fitch Ratings affirms 'BBB-' rating on Adani Ports with stable outlook

Fitch Ratings on Thursday affirmed its 'BBB-' rating on Adani Ports and Special Economic Zone Limited with a stable outlook, saying the Hindenburg report has a limited near-term impact on APSEZ's cost of funding. Hindenburg Research in a January 24 report accused Adani group of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices. The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. "Fitch Ratings has affirmed India-based port operator Adani Ports and Special Economic Zone Limited's (APSEZ) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-'. The Outlook is Stable," it said. The Hindenburg report alleging significant governance issues for the Adani Group has triggered a sharp fall in Adani Group entities' equity and bond prices. "The affirmation reflects its view that the Hindenburg report alleging governance issues at the Adani group has a limited

First Republic Bank's rating downgraded to 'B' by Fitch amid cash crunch

The bank is currently operating at a loss and that is not sustainable over the longer term absent a balance sheet restructuring, they said

Fitch Affirms 'BBB-' ratings for Adani Electricity Mumbai's dollar bond

Hindenburg report has limited near-term impact on cost of funding

Markets brace for potential default by Pakistan as $7 bn debt looms

Pak was downgraded deeper into junk by Moody's Investors this week as the country faces its worst economic crisis in decades, with foreign reserves plummeting and inflation soaring to record high

Fitch affirms Adani Transmission restricted group's notes at 'BBB-'

No direct impact of alleged malpractices at group on Credit assessment

Indian banks' performance till Dec 22 exceeds expectations: Fitch Ratings

The sector's impaired-loan ratio declined to 4.5 per cent in the first 9 months of FY23 (9MFY23), from 6.0 per cent at FY22

Rehaul rules to improve financing Indian green projects: Fitch unit

In a report listing steps to revise the framework, the unit of Fitch Ratings said implementing public-sector credit guarantees would help lower financing costs

India's green bonds show policy focus on climate mitigation: Fitch Ratings

The sovereign green bonds issued by India reflects the growing policy focus to scale up domestic financing capacity on climate mitigation and adaptation, said credit rating agency Fitch Ratings.

Bank credit profiles not at much risk from Adani exposure, says Fitch

State-owned lenders could see pressure to refinance group's debt if global market shun it

Indian banks' NIM to contract in FY24 as deposit costs rises: Fitch

Lenders should be able to offset impact by gradually passing on policy rate hikes to corporate loans: Agency

Budget seeks to maintain balance between growth & deficit: Fitch Ratings

The Indian Budget for 2023-24 presented by Finance Minister Nirmala Sitharaman in Parliament seeks to maintain a balance of sustaining a growth focus and deficit reduction, said Jeremy Zook