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Fitch Ratings

Fitch Ratings cuts India GDP growth forecast for FY20 to 6.8 per cent

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

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

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.

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Fund infusion into PSBs not sufficient to support lending growth: Fitch

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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'

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.

GST may not raise revenues ''significantly'' in next few years: Fitch Ratings

GST may not raise revenues ''significantly'' in next few years: Fitch Ratings

Wed, May 24, 2017

Finance Minister Arun Jaitley had said that the revenues under GST may see an indirect increase with the widening of the tax net and less tax evasion.

Giving more power RBI an important step; implementation face challenges: Fitch

Giving more power RBI an important step; implementation face challenges: Fitch

Fri, May 12, 2017

“The increased powers given to the Reserve Bank of India (RBI) to clean up asset quality, and to intervene in banks at an earlier stage when risks build, represents an important positive step toward ensuring a healthy banking system in the future,” Fitch said.

Fitch Ratings pegs India's real GDP at 7.7% in FY17

Fitch Ratings pegs India's real GDP at 7.7% in FY17

Tue, May 02, 2017

Fitch Ratings said, "India's sovereign ratings balance a strong medium-term growth outlook and favourable external balances with a weak fiscal position and difficult business environment. However, the business environment is likely to gradually improve with the implementation and continued broadening of the government's structural reform agenda."

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