Page 9 - India Ratings

India Ratings pegs India's GDP growth in Q2 at 4.7%; FY20 forecast at 5.6%

Second-quarter GDP numbers are likely to be announced on Friday

Another warning

Structural changes needed in every aspect of the economy

States to miss debt target on slow economic growth: India Ratings

RBI data showed that fiscal deficit of states rose to 2.9% of gross domestic product (GDP) in their Revised Estimates, from 2.6% in their Budget Estimates for FY19

Why do credit rating agencies keep missing big Indian company defaults?

India's major rating firms include Crisil, the Indian unit of S&P Global; ICRA, the local unit of Moody's Investors Service

Sebi, Ministry of Corporate Affairs plan to turn up heat on rating firms

Credit rating agencies may be told to follow norms set for bourses; move will change ownership structure

As NPA resolution crawls, banks stare at spike in credit cost: India Rating

Icra said material incremental NPA generation for fiscal 2020 and 2021 may come from the agriculture and MSME sectors

NHAI pause on contracts likely to hurt construction firms' revenue

Gadkari said NHAI was in a comfortable position and it would go ahead with its fund-raising plans

Ind-Ra lowers outlook on steel sector on sluggish demand expectation

Assigns 'stable-to-negative' outlook from 'stable' for remainder of FY20

India Ratings downgrades YES Bank to 'IND A+', says 'outlook is negative'

"India Ratings and Research has downgraded Yes Bank Ltd's long-term issuer rating to 'IND A+' from 'IND AA-," the bank said in a BSE filing

India Ratings cuts growth forecast for FY 2019-20 to 6-year low at 6.7%

Another risk to the economy is that inflation may rise, depending on the behaviour of oil and rupee value against the dollar, said Sunil Kumar Sinha, principal economist at India Ratings

India Ratings cuts FY20 GDP forecast to 6.7% from earlier estimate of 7.3%

It said the rising global trade tension will also have an adverse impact on exports

Power capacity addition meagre in Q1; 45 Mw power added of 1820 Mw target

For the full year, the official target is to add 12,186 Mw

India Ratings defends process after IL&FS row, says Fitch executive dumped

Finding itself at the centre of the IL&FS controversy, India Ratings on Saturday said its investigation into the role of a senior director at parent firm Fitch's Singapore office found him in violation of the company's code of conduct and he is no longer an employee. The rating agency also defended its rating process, saying its ratings for IL&FS group entities followed a robust and transparent analysis of relevant information including the company's audited financial statements and sought to shift the blame to falsification and sprucing up of the financials by the former top management of the group. It rejected the observations made in a special audit by Grant Thornton of the ratings given by five credit rating agencies, including India Ratings, to some IL&FS entities, in which it has been alleged that the agencies continued to give top ratings despite being aware about weak financials of the group. The audit has also flagged attempts by the erstwhile top management of ...

Real Madrid tickets to Fitbit shirts: Gifts by IL&FS for favourable ratings

From tickets for a Real Madrid football match and hefty discounts on a luxurious villa to a Fitbit watch and shirts, a probe into the high-profile IL&FS scam has found numerous cases of favours and gifts extended by the erstwhile top management to senior officials of rating agencies and their family members. While the continuing probe has already led to CEOs of two rating agencies having been sent on leave by their respective boards, fresh details have emerged about suspected attempts by the former top management personnel of IL&FS Group to influence the rating agencies and their top officers for high credit ratings. The new board of IL&FS, which was appointed by the government after massive defaults by the group to the tune of over Rs 90,000 crore and suspected wrong-doings by the former top management, had mandated Grant Thornton to carry out a forensic audit. In an interim forensic audit report on role of credit rating agencies engaged by the erstwhile management, Grant

Care Ratings CEO sent on leave after Sebi receives anonymous complaint

Earlier this month, the local unit of Moody's Investors Service sent its managing director on leave amid an inquiry into a controversial rating decision

India Ratings lowers country's GDP growth projection for FY20 to 7.3%

Key reasons for downward revision are the prediction of lower-than-normal monsoon for 2019 and continued agrarian distress

Many companies may not get credit from PSBs in FY19: India Ratings report

Government's substantial cash infusion of Rs 1.53 trn into state-run banks in FY19 would be adequate to cover credit costs emanating from stressed assets

India Ratings downgrades IDBI Bank to AA from AA+; outlook negative

RBI has recently initiated 'prompt corrective action' for the bank on account of higher NPAs

India Ratings assigns AAA rating to NHAI's FY18 borrowing plan

With government pushing infrastructure development by way of developing world class roads, National Highways Authority of India (NHAI) has geared up to borrow Rs 59,000 crore through a string of instruments including bonds during the current financial year (2017-18).The authority has been given AAA rating and a stable outlook by India Ratings and Research. Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk.NHAI, being the sole agency responsible for the development of national highways in India, is strategically important to the government. Its fundamental purpose is to improve the national road transit infrastructure, better serve the national economy, and improve the country's standard of living, the rating agency said in a release.Strong federal control, with the government monitoring its annual budget (including borrowings) and operational performance, ...

New law disallows sale of excess mineral by captive users: Ind-Ra

Acquisition costs during transfer of mines to increase, says the ratings agency