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Fitch Ratings News
Fitch Ratings cuts India GDP growth forecast for FY20 to 6.8 per cent
Fri, Mar 22, 2019
Fitch Ratings cut India's FY19 GDP growth forecast to 7.2 per cent from 7.8 per cent on December 6. The rating agency has also cut growth forecasts for FY20 and FY21 to 7 per cent from 7.3 per cent and 7.1 per cent from 7.3 per cent, respectively.
Hudco set to raise $500 m debt from global investors
Wed, Mar 20, 2019
Hudco is in the international debt market with a benchmark dollar bond sale to raise at least USD 500 million as part of its medium-term note (MTN) programme.
Government's bank recap drive not enough for PSBs, Fitch reveals massive amount needed
Wed, Feb 27, 2019
In Fitch’s view, the authorities' approach to the banking sector has clearly shifted towards spurring lending in recent months.
Fund infusion into PSBs not sufficient to support lending growth: Fitch
Wed, Feb 27, 2019
The finance ministry last week announced infusion of Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans.
Fitch downgrades JLR outlook to negative; affirms BB+ ratings
Fri, Sep 14, 2018
The agency cited a likely increase in JLR's negative cash flow in the next two years due to the falling profitability and the risks from Brexit as it sells around 20 per cent of its volumes in the EU markets.
Major reforms undertaken; India deserves rating upgrade: Garg
Sun, Apr 29, 2018
In an interview to PTI, Economic Affairs Secretary Subhash Chandra Garg said Fitch's action did not come as a surprise as the rating agency had in discussion earlier indicated its focus on level of government debt even though it had a very favourable view on India's economy.
PNB fraud: Banks review HR strategy; BoI begins to seek update
Tue, Feb 20, 2018
In the wake of Rs 11,000 crore fraud at Punjab National Bank, the biggest ever in the banking history, other banks have woken up to plug loopholes in the system. Several banks have reportedly started moving their officials holding same positions for more than three years.
Task to strengthen public finances left to next govt: Fitch Ratings
Tue, Feb 06, 2018
The fiscal slippage of 0.3 per cent of GDP in both 2017 -18 and 2018-19 is relative to last year's budget targets of 3.2 per cent and 3 per cent of GDP, respectively. The target for current fiscal was missed largely because of higher expenditure, Fitch said.
High govt debt burden constrains India's rating: Fitch
Fri, Feb 02, 2018
Fitch Ratings today said high debt burden of the government constrains India's rating upgrade, a day after Finance Minister Arun Jaitley projecting a fiscal deficit of 3.5 per cent of GDP against the earlier target of 3.2 per cent.
Recapitalisation plan credit positive for all PSBs: Moody's
Thu, Jan 25, 2018
The government will provide material capital infusions for even weak PSBs since IDBI, CBI and IOB received amongst the highest capital allocations, said Moody's.
Recap to mitigate PSB risks but NPAs to impact performance: Fitch
Thu, Jan 25, 2018
Fitch said recapitalisation is "short of enabling the banks to meet higher regulatory capital burdens under Basel III in the face of persistent weak earnings.".
India Ratings projects economic growth at 7.1% next fiscal
Thu, Jan 18, 2018
India Ratings and Research today projected the country's economic growth to improve to 7.1 per cent next fiscal from 6.5 per cent this year, buoyed by robust consumption demand and low commodity prices.
PSBs in PCA framework may not get govt's recap support
Wed, Jan 10, 2018
As per Fitch, government officials have indicated that capital injections are to be targeted at supporting lending growth.
Fitch Ratings cut India's FY18 GDP growth forecast to 6.7%, says rebound weaker than expected
Mon, Dec 04, 2017
The US-based ratings agency said growth has "repeatedly disappointed" in recent quarters, partly because of one-off factors including the demonetisation programme of November 2016 and disruptions related to the implementation of the Goods and Services Tax (GST) in July 2017.
Indian economy on watch-list of S&P; positive rating can be reality in 2018
Sat, Nov 25, 2017
Two major agencies namely Moody's Investor Services and S&P have provided two different ratings outlook for India, one being cautious and other stating positive outlook for the country.
Bharti Airtel–Tata deal part of consolidation in telcos after RJio's entry: Fitch
Fri, Oct 13, 2017
Merging is being done on a debt-free cash-free basis, except for Bharti Airtel assuming a small portion of the unpaid spectrum liability of Tata’s towards the DoT, which is to be paid on deferred basis.
Cost of recapitalising state banks may rise, says Fitch
Wed, Aug 16, 2017
Between April - till date, AT1 instruments worth around Rs 18,300 crore have been issued by eight banks, compared with Rs 4,800 crore by four banks in the corresponding period of the previous year.
Fitch affirms China's A rating with stable outlook
Fri, Jul 14, 2017
Fitch Ratings on Friday maintained its A rating on China with a stable outlook, citing the strength of the country`s external finances and macroeconomic record.
India's GDP to grow at 7.4%-7.6% in the next two fiscals, Fitch Ratings says
Tue, Jun 20, 2017
Gross Domestic Product (GDP) or India's economic growth is expected to rise by 7.4% and 7.6% in the next two fiscal years, Fitch Ratings said on Tuesday in its Global Economic Outlook report.
Now Fitch downgrades Reliance Communications, says default a 'real possibility'
Thu, Jun 01, 2017
After ICRA and Moody's, now Fitch Ratings downgraded Reliance Communications to CCC.