Page 4 - Moody’s

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.

Moody's downgrades Italian economy amid inflation, energy concerns

Moody's slashed its assessment of the country's banking system from "stable" to "negative", and said it expects conditions for the banking sector to deteriorate further over the coming 12 to 18 months

Moody's lowers Vedanta Resources rating to 'B3' implying high credit risk

Persistently weak liquidity, high refinancing needs triggers rating action

Moody's lowers Vedanta Resources rating to 'B3' implying high credit risk

Persistently weak liquidity, high refinancing needs triggers rating action

UK credit score outlook revised to negative by Moody's on political drama

The rating firm said the change in the outlook was driven by "heightened unpredictability in policymaking" in UK amid weaker growth prospects and high inflation

RBI rate hikes to have limited impact on Indian banks' profits: Moody's

The Reserve Bank of India's slew of rate hikes this year to combat surging inflation will help lift banks' net interest margins, but the increase will be limited, Moody's Investors Service said

'Strongly contest' sovereign credit ratings downgrade by Moody's: Pakistan

Moody's cut Pakistan's sovereign credit rating on Thursday by one notch to Caa1 from B3, citing increased government liquidity and external vulnerability risks in the wake of devastating floods

Infrastructure firms can resist further rupee depreciation: Moody's

Generally, corporate infrastructure issuers have features that shield them to currency weakness

Global economic turmoil not to impact India's recovery, says Moody's

India's economic recovery is unlikely to be derailed by rising challenges to the global economy, higher inflation and tightening financial conditions, Moody's Investors Service on Tuesday said, affirming a stable outlook for the country's rating. Moody's saw the Indian economy expanding by 7.6 per cent in the current fiscal compared to 8.7 per cent growth in the last financial year that ended on March 31. For 2023-24, it estimates a 6.3 per cent GDP growth. It rates India at Baa3, the lowest investment grade rating. In October last year, it revised upwards the rating outlook to stable from negative. "The credit profile of India reflects key strengths, including its large and diversified economy with high growth potential, a relatively strong external position, and a stable domestic financing base for government debt," Moody's said in a note. Principal credit challenges include low per capita income, high general government debt, low debt affordability and limited government ...

Top headlines:India gets intranasal Covid vax; Moody's retains India rating

The global ratings agency said it will maintain its long-term sovereign debt credit rating and outlook on Asia's third largest economy

Day after Q1 GDP data, a spate of forecast cuts by banks, institutions

Moody's cut its forecast to 7.7%, from 8.8%, citing dampening economic momentum in the coming quarters on rising interest rates, uneven monsoon, and slowing global growth

Are falling growth rates the next big worry for Indian equity markets?

A dip in demand amid rising inflation and central bank policies has seen brokerages, such as Goldman Sachs and Morgan Stanley, cut their respective growth estimates for the Indian economy

Moody's slashes India's economic growth forecast to 7.7% for 2022

Moody's Investors Service on Thursday slashed India's economic growth projection for 2022 to 7.7 per cent, saying that rising interest rates, uneven monsoon, and slowing global growth will dampen economic momentum on a sequential basis. Moody's had in May projected India's GDP to expand by 8.8 per cent this year. The economy grew by 8.3 per cent in 2021 and contracted by 6.7 per cent in 2020, the year when the pandemic struck the country. In its update to Global Macro Outlook 2022-23, Moody's said India's central bank is likely to remain hawkish this year and maintain a reasonably tight policy stance in 2023 to prevent domestic inflationary pressures from building further. Our expectation that India's real GDP growth will slow from 8.3 per cent in 2021 to 7.7 per cent in 2022 and to decelerate further to 5.2 per cent in 2023 assumes that rising interest rates, uneven distribution of monsoons, and slowing global growth will dampen economic momentum on a sequential basis, Moody's ...

Rupee at 80: How top Indian companies hedged themselves for dollar

Reliance Industries, the Tata group, Bharti Airtel, Aditya Birla among conglomerates that took forward positions

Moody's upgrades Tata Steel's outlook to 'positive' from 'stable'

Action reflects company's track record of delivering a solid operating show while maintaining conservative financial policies; firm is poised to reduce its debt by at least $1 billion in FY23