Page 3 - Fitch

UK debt outlook cut by Fitch after Liz Truss's mini-Budget debacle

A top US credit rating agency has lowered its outlook for British government debt from "stable" to "negative" amid the fallout from Prime Minister Liz Truss's mini-budget fiasco

Fitch Ratings cuts UK's credit outlook to negative on fiscal risk

The UK's credit outlook was lowered to negative from stable by Fitch Ratings, which cited risk the government's new growth plan could increase the nation's fiscal deficit

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 warns of high risk Sri Lanka may default on local currency bonds

Fitch Ratings's 'CCC' rating on long-term local currency debt that was affirmed in May "reflects a high risk that local-currency debt will be included in debt restructuring

Adani's ports-to-power conglomerate 'deeply overleveraged': CreditSights

The aggressive expansion pursued by the Adani Group, led by Asia's richest person, has put pressure on its credit metrics and cash flow, CreditSights said

Repayment pressure to test banks' loan underwriting quality: Fitch

Mounting repayment pressure for some borrowers, particularly micro, small and medium-sized enterprises, amid India's interest rate hikes will test banks' loan underwriting quality, Fitch Ratings said

Fitch revises outlook on domestic lenders to 'Stable', affirms IDRs

Action follows upgrade in outlook on India's Sovereign rating

Fitch lauds Indian economic recovery, ups outlook from negative to stable

The rating agency scaled down the GDP growth estimates for FY23 to 7.8% from 8.5%

Fitch downgrades OYO's ratings over uncertainty in making profit

Rating agency expects the company's FY23 revenue to increase by around 30%, lower than its forecast.

Fitch withdraws ratings on debt-laden China Evergrande, subsidiaries

Fitch said that it would no longer have sufficient information to maintain the ratings on Evergrande, the world's most indebted developer with more than $300 bn in debt, and two of its subsidiaries

Lankan insurance firm set to lose LKR 1 billion due to May 9 violence

Sri Lanka's state-owned insurance firm may incur losses in excess of LKR 1 billion due to the violent clashes between anti- and pro-government protesters on May 9, Fitch said

Fitch affirms Wipro, HCL Tech's long term 'A-' rating, outlook stable

The rating agency, in a statement, said it has affirmed Wipro's senior unsecured rating on the $750-mn senior notes due 2026

Moderate asset quality pressure may re-emerge for banks: Fitch

Moderate pressures on asset quality of Indian banks may re-emerge as forbearance starts to unwind from 2023, Fitch Ratings said on Friday

Jubilant Pharma: Fitch revises outlook to 'negative'; affirms 'BB' rating

Fitch estimates the pharma company's EBITDA to drop significantly in FY23 due to lower volume and narrowing of the margin to 11%

Beyond capex, Budget was short on structural reform announcements: Fitch

'From a rating perspective, we see India as having limited fiscal space as it has the highest general government debt ratio of any 'BBB'-rated emerging market sovereign,' says the rating agency

Fitch downgrades Sri Lanka's sovereign rating to 'CC' from 'CCC'

Fitch has downgraded Sri Lanka's sovereign rating to 'CC' from 'CCC', saying there is an increased probability of a default in coming months.

Fitch lowers outlook on ReNew Power rating to Stable on slower deleveraging

The firm's capex was expected to be below company's estimates given the continuing Covid-related challenges, including delays in signing new PPAs, the rating agency said

Fitch cuts India GDP forecast for FY22 to 8.4% in Nov from 8.7% in Oct

However, Fitch raised GDP growth projection for the next financial year to 10.3 per cent

Fitch affirms ICICI Bank's issuer default rating at 'BB+'; outlook negative

The rating agency assigned ICICI Bank a Government Support Rating (GSR) of 'bb+' as well

FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch

Revenue Secretary Tarun Bajaj has said the government's tax collection kitty will surpass budget estimates this financial year on the back of good direct and indirect tax mop-up.