Page 9 - Fitch Ratings
Fitch refuses to do a Moody's, retains India's outlook at negative
Also retains ratings at the lowest investment grade
 "Fitch refuses to do a Moody's, retains India's outlook at negative")
China developer Modern Land fails to repay $250-million bond
Fitch Ratings downgraded Modern Land to restricted default from C late Tuesday following the payment miss
 "China developer Modern Land fails to repay $250-million bond")
Does India have a case for the upgrade it seeks from rating agencies?
The economy is yet to reach pre-pandemic level on many fronts, fiscal deficit and debt-to-GDP ratio remain pain points; however, key reforms could work in the country's favour
 "Does India have a case for the upgrade it seeks from rating agencies?")
Fitch cuts GDP growth projections to 8.7% for FY22 from 10% earlier
A day ahead of policy review, it expects RBI to hold policy rates during FY22
 "Fitch cuts GDP growth projections to 8.7% for FY22 from 10% earlier")
Fitch cuts India's FY22 GDP forecast to 8.7%, but pegs FY23 growth at 10%
Fitch Ratings said India''s 'BBB-/Negative' sovereign rating 'balances a still-strong medium-term growth outlook and external resilience from solid foreign against high public debt, a weak financial
 "Fitch cuts India's FY22 GDP forecast to 8.7%, but pegs FY23 growth at 10%")
Fitch Ratings cuts China's growth forecast to 8.1% on property curbs
It added that the economic slowdown has already prompted a recalibration of macroeconomic policy settings
 "Fitch Ratings cuts China's growth forecast to 8.1% on property curbs")
India's fuel ethanol consumption to rise to meet E20 target: Fitch
Fitch Solutions said on that India's ethanol consumption will increase over the next few years, driven primarily by the government's desire to support the sugar sector by boosting ethanol production
 "India's fuel ethanol consumption to rise to meet E20 target: Fitch")
Climate change: Water risks highest in Asia, says Moody's report
The Moody's report said risks are more pronounced for water-intensive sectors like mining, agriculture and power
 "Climate change: Water risks highest in Asia, says Moody's report")
Fitch rates Power Finance Corporation's proposed EUR green bond BBB-minus
Fitch Ratings has assigned Power Finance Corporation's (PFC's) proposed Regulation S senior unsecured euro green bond a rating of BBB-minus.
 "Fitch rates Power Finance Corporation's proposed EUR green bond BBB-minus")
Indian banks' improved performance in contrast to stress from Covid: Fitch
Indian banks' improved performance for the financial year ended March 2021 is in contrast to the stress evident from extension of Covid-19-related relief measures to borrowers, Fitch Ratings has said.
 "Indian banks' improved performance in contrast to stress from Covid: Fitch")
Fitch says BPCL privatisation may get delayed for multiple reasons
Bidders are conducting due diligence, but uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays, says the ratings agency
 "Fitch says BPCL privatisation may get delayed for multiple reasons")
Bharti Airtel's equity issuance to aid deleveraging, fund 5G capex: Fitch
Bharti will raise equity in three tranches, a quarter of the proceeds to be received upfront and the balance in two instalments within three years
 "Bharti Airtel's equity issuance to aid deleveraging, fund 5G capex: Fitch")
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 assigns stable outlook to ReNew RG II's $525 million notes at BB")
Fitch cuts India growth forecast to 10%, says vaccination to help revival
Rapid vaccination could support a sustainable revival in business and consumer confidence: Fitch
 "Fitch cuts India growth forecast to 10%, says vaccination to help revival")
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
 "Fitch affirms Glenmark Pharmaceuticals at BB with a stable outlook")
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.
 "Fitch affirms gas utility GAIL India at BBB-minus with negative outlook")
Fitch upgrades Reliance rating a notch above India's sovereign rating
Fitch Ratings has upgraded Reliance Industries Ltd's rating to 'BBB', one notch above India's sovereign rating, as the company benefits from cash flow generation across diversified business segments
 "Fitch upgrades Reliance rating a notch above India's sovereign rating")
Capex pace, receivables to drive ratings of Indian renewable holdcos: Fitch
Capex intensity and the pace of receivables collection from distribution companies will dictate ratings trajectory for Greenko Energy Holdings and ReNew Power, Fitch Ratings has said in a new report
 "Capex pace, receivables to drive ratings of Indian renewable holdcos: Fitch")
Fitch Ratings affirms Adani Ports at 'BBB-'; outlook negative
About 56% of firm's cargo is sticky, which includes contractual take-or-pay cargo, or that which is unlikely to be diverted to other ports due to infra curbs
 "Fitch Ratings affirms Adani Ports at 'BBB-'; outlook negative")
Top headlines: Jubilant FoodWorks Q4 net soars; Fitch downgrades APSEZ
Business Standard brings you the top news of the evening
 "Top headlines: Jubilant FoodWorks Q4 net soars; Fitch downgrades APSEZ")
