Page 3 - Moody's

FinMin to meet Moody's on June 16, to pitch for sovereign rating upgrade

The Indian finance ministry officials will meet credit rating agency Moody's Investors Service on June 16 and pitch for a sovereign rating upgrade, two government sources told Reuters

Pakistan could default in the absence of IMF bailout loans, warns Moody's

Pakistan is struggling to restart a $6.5 billion bailout program from the Washington-based lender, which has stalled after the government failed to meet some loan conditions

Oyo may log positive Ebitda of $50-55 million this FY, says Moody's

Moody's said it could downgrade the ratings if OYO's cash burn does not "reduce significantly" over the next 12-18 months

Moody's lowers Vedanta Resources' rating, flags rising refinancing risks

Rating agency maintains negative outlook on firm

India's Q4 economic growth in 2022 to be temporary: Moody's Analytics

The country's economic slowdown late last year will be temporary and even salutary, helping to wring some of the demand-side pressures out of the economy without stopping it wholesale

Moody's downgrades long-deposit ratings of five Pakistani banks amid crisis

Moody's Investors Service has downgraded the long-term deposit ratings of five Pakistani banks to Caa3 from Caa1, The Express Tribune reported

Moody's affirms Baa1 rating for TCS, Infosys, sees growth slowing in FY24

IT services companies expected to maintain businesses growth and market position

Moody's maintains ratings of 8 Adani cos, changes outlook on 4 to negative

Affirmation of APSEZ's issuer ratings considers the company's strong market position as the largest port developer and operator in India by cargo volume and its strong liquidity and financial profile

Portion of Adani Group's capital expenditure is deferrable: Moody's

Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will impact the group's ability to raise capital

Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'

India's improving macros, banks improving credit profile trigger upgrade

Geographical diversification of chip manufacturing to happen: Moody's

China's reliance on semiconductor imports is unlikely to diminish over the medium term given constraints on its advanced chip production

Credit worthiness of India, others in APAC to be stable, says Moody's

Most sovereigns have begun fiscal consolidation, but social pressures are slowing progress

India, Bangladesh unlikely to cut subsidy bill as elections near: Moody's

Average fiscal deficit to be 4% of GDP in 2023, says agency's Sovereigns--Asia-Pacific report

India's fiscal consolidation trend intact; to see strong revenues: Moody's

Moody's Investors Service on Tuesday said the trend of gradual fiscal consolidation remains intact for India and going forward the country will see strong revenue performance and debt stablisation. Moody's Investors Service Senior Vice President Christian de Guzman said India's 'Baa3' sovereign rating balances its strength of relatively high economic growth and weakness of one of the most highly indebted emerging market sovereigns. The country's healthy financial system is reflected in deleveraging by Indian corporates. "We expect that India is going to be the fastest growing G-20 economy next year... (but) high inflation pose a downside risk to India's growth as households and businesses have less purchasing power," Guzman said in a Moody's virtual event 'Sovereign Deep Dive'. Moody's had earlier this month cut India's growth projection for 2022 to 7 per cent, from 7.7 per cent projected earlier. It expects growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4

Moody's closing its consulting business in China, laying off staff: Report

The US-headquartered credit rating firm, Moody's Corp is shutting it's China consulting business and is laying off its staff

2023 will be a challenging year for emerging markets: Moody's report

In a report, Moody's said next year will present a challenging backdrop for EMs

Moody's give negative credit outlook to nations on high prices, slow growth

Moody's on Tuesday gave a 'negative outlook' to credit worthiness of countries globally for 2023, saying high prices of food and energy would curb economic growth and raise social tensions. Tighter financial conditions and economic scarring will push some debt burdens to unsustainable levels, while rising borrowing costs will erode debt affordability, according to Moody's. It forecast that as many as 13 nations, including India, would spend over 20 per cent of their government revenue in servicing debt next year. The policy dilemma between servicing creditors and meeting populations' demands for social and economic developments will intensify as governments dedicate a growing share of their revenue to interest payments, it added. "Our outlook for sovereign creditworthiness in 2023 is negative. Although inflation will start declining, prices of food and energy will remain high, curbing economic growth and raising social tensions," Moody's said. Global GDP growth will slow to 1.7 pe

Moody's slashes India's GDP growth forecast for 2022 by 70 bps to 7%

Weak rupee, and high oil prices cited as reasons for the downward revision

Moody's cuts India's GDP growth projection for 2022 from 7.7% to 7%

Moody's on Friday slashed India's GDP growth projections for 2022 to 7 per cent from 7.7 per cent earlier as the global slowdown and rising domestic interest rates will dampen economic momentum. This is the second time that Moody's Investors Service has cut India's growth estimates. In September, it had cut projections for the current year to 7.7 per cent from 8.8 per cent estimated in May. "For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. The downward revision assumes higher inflation, high-interest rates and slowing global growth will dampen economic momentum by more than we had previously expected," the agency said in its Global Macro Outlook 2023-24. Moody's expects growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4 per cent in 2024. It said the global economy is on the verge of a downturn amid extraordinarily high levels of uncertainty amid persistent inflation, monetary policy tightening, fiscal ...

India and China are converging to high income levels, says Moody's

"The remainder have been in the same income category for decades and are either converging at a relatively slow pace or diverging from high-income levels," Moody's said.