Fitch affirms Bharti Airtel credit rating at BBB

Credit rating firm Fitch affirmed Bharti Airtel's long-term foreign currency issuer default rating at 'BBB' with stable outlook, reflecting the firm's ability to repay debt, reported PTI.

"Fitch Ratings has affirmed Bharti Airtel's (Bharti) long-term foreign currency issuer default rating (IDR) and senior unsecured rating at 'BBB'. The outlook on the I

S&P likely to follow regular rating review schedule for China - executive

BEIJING  - Standard & Poor's is likely to follow its regular ratings review schedule for China, and does not see any basis at this point in time for an out-of-schedule committee meeting, a senior director at the ratings agency told Reuters on Monday.

S&P has an AA- rating on China with a negative outlook that it has maintained since March last year. T

GST may not significantly boost revenues in short term: Fitch

Global rating agency Fitch Ratings has said that the Goods and Services Tax (GST) reform, being pitched as India's biggest reform that will come into effect from July 1, may not boost revenues significantly in the next few years. Commenting on the issue, Thomas Rookmaaker, Director, Sovereigns and Supranationals Group, Fitch Ratings said, "We do not expect it will lead to significantly

IFRS 17 adoption won`t change insurer ratings, says Fitch

IFRS 17, the new international accounting standard for insurance contracts published today, will not trigger any immediate rating changes when it comes into force, says Fitch Ratings. According to Fitch Ratings, new accounting standards have no immediate impact on an insurer's credit profile as they do not change the economic substance of its balance sheet.

The assets held and the

Global attacks spur demand for cyber insurance, says Fitch Ratings

The slew of recent ransomware attacks in over 150 countries reveals the widening scope of corporations' cyber risk exposures, which is likely to increase demand for related insurance protection, says Fitch Ratings. According to Fitch ratings, insurers are in a unique position to assist customers in addressing the cyber threat.

However, a cautious approach to adding cyber exposures

India making concerted push to tackle bad loan: Fitch

Fitch Ratings said Indian authorities are making a more concerted push to clean up bad loans in the banking sector but the move would impinge on banks' profitability in the short-term, reported PTI.

It said that asset resolution would be a dominant theme in the sector over the next few years and further losses may push some weaker banks closer to breaching minimum capital requirem

Prospects for bad loan clean-up at Indian banks improving, says Fitch

Recent regulatory actions in India suggest the authorities are making a more concerted push to tackle banks' bad loan problems, says Fitch Ratings. The agency said that it believes that asset resolution will be a dominant theme in the sector over the next few years.

In the short term, this is likely to create provisioning costs that will mean continued pressure on bank profits, an

Fitch affirms India's rating at 'BBB-', outlook stable

Global ratings agency Fitch on Tuesday affirmed India's long-term foreign and local currency ratings at 'BBB-', the lowest investment grade, but said the outlook is "stable".

Further, the rating agency said it expected India's real Gross Domestic Product to grow at 7.7 per cent during 2017-18. 

"India's positive GDP growth outlook stan

RBI strengthens tools to intervene in ailing Indian banks

The Reserve Bank of India's (RBI) updated "prompt corrective action" (PCA) framework could suggest a greater willingness to take regulatory action to address problems at struggling banks, but its implementation is only likely to be effective if it is matched by credible plans to address banks' significant asset quality issues and capital shortages, says Fitch Ratings.

Cyber risk is a growing threat to financial institutions`says Fitch

Cyber-attacks against financial institutions are an increasingly significant risk, says Fitch Ratings. The global rating agency said that cyber risk is a growing threat that can adversely affect credit ratings as attacks can compromise customer data and disrupt websites, with detrimental financial or operational consequences for individual issuers and financial systems.

Related reputa

Revised PCA rules to impact NPA laden PSBs: Fitch Ratings

A report has said that RBI's updated `prompt corrective action' (PCA) rules can potentially impact more than half of the NPA-laden state-run banks. Commenting on the issue, a Fitch Official told the media, "More than half of state-owned banks would breach at least one of the new thresholds, mainly owing to high NPLs, based on their latest financial reports."


Waiver scheme may raise Indian tractor loan delinquencies, says Fitch Ratings

Delinquencies on tractor loans could rise in several Indian states as a result of political pressure for farmers to be granted waivers on agricultural loans, says Fitch Ratings. According to the rating agency, the media reports that farmers' loans may be waived are likely to create moral hazard and credit discipline issues, given that there will be an incentive for farmers to skip loan repa

SBI's proposed debt less likely to default at BBB- by Fitch

Fitch Ratings has assigned SBI's proposed debt instruments with a less default likelihood at BBB-(EXP) rating, reported PTI. The debt instruments constitute direct, unconditional, unsubordinated and unsecured obligations of SBI. Issue is expected to be of three year tenor and the notes are to be issued by SBI's London branch.

These instruments are rated at the same level of ba

Fitch assigns 'BB(EXP)' rating to JSW Steel proposed USD Notes

Fitch Ratings has assigned a 'BB(EXP)' expected rating to India-based JSW Steel Limited's (JSWS, BB/Negative) proposed US dollar senior unsecured notes, which the company states will be used for repaying foreign-currency debt, capex or any other purpose in accordance with regulations.

“The final rating is subject to the receipt of final documentation conforming to in

Fitch Ratings downgrades long-term issuer default ratings on BILT

Fitch Ratings further downgraded the long-term issuer default ratings on paper maker Ballarpur Industries Ltd (BILT) and its subsidiary Bilt Paper BV to a more speculative grade, reported PTI. Citing severe liquidity constraints and inevitable default, the agency said it has downgraded ratings on BILT and its subsidiary "to C from CCC".

In January, Fitch had downgraded BILT

Crunch week as Fed meets on rates, Trump team joins G20

By William Schomberg

LONDON  - After a year that tipped conventional wisdom on its head, the coming week might suggest a return to some sort of normality for the global economy -- or instead take investors into a whole new round of uncertainty.

On the face of it, Wednesday's expected interest rate hike by the Federal Reserve would be a clear sign th

'Indian banks run risk of skipping coupon payments'

Global credit rating agency Fitch Ratings on Thursday said some Indian banks are at the risk of skipping coupon payments on capital instruments over next couple of years.

According to Fitch, some Indian banks are at risk of skipping on obligations despite the pressure easing measures by the Reserve Bank of India (RBI), additional capital infusions into government owned banks.

Some Indian banks risk skipping coupon payments - Fitch Ratings

MUMBAI  - Some Indian banks are at risk of skipping coupon payments on their capital instruments despite recent easing of rules by the central bank and capital injection by the government into state-run lenders, Fitch Ratings said on Thursday.

Mid-sized banks are the most at risk of breaching capital triggers, the agency said. A Fitch analysis showed total capita

India's official Q3 GDP growth data surprising: Fitch

 American agency Fitch Ratings on Tuesday expressed surprise at the official Indian statistician's latest projection of 7 per cent GDP growth in the third quarter ended December, saying it contradicted data on real services activity hit by demonetisation.

"This number looks somewhat surprising as real activity data released since demonetisation pointed to weak consumptio

Fitch affirms NHPC at 'BBB-'; withdraws Ratings

Fitch Ratings has affirmed state-run hydro power producer NHPC the Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with stable outlook -- reflecting its robust operating and financial profile, reported PTI. At the same time, Fitch has chosen to withdraw the ratings of NHPC for commercial reasons, Fitch Ratings said in a statement.

According to stat

Bad bank may push India loan clean-up, says Fitch Ratings

The creation of a 'bad bank' could accelerate the resolution of stressed assets in India's banking sector, but it may face significant logistical difficulties and would simultaneously require a credible bank recapitalisation programme to address the capital shortfalls at state-owned banks, says Fitch Ratings.

According to Fitch Ratings, India's banks have significant a

Fitch India affiliate sees banks' core capital needs at $13.6 billion by March 2019

MUMBAI - India's banks will need 910 billion rupees ($13.6 billion) in Tier-1 capital until March 2019 to grow at a bare minimum pace of 8 to 9 percent on average, India Ratings and Research said on Wednesday.

Of the total capital needs, 500 billion rupees will have to come from additional Tier-1 bonds, the rating agency, an affiliate of Fitch, said.


Finance Minister reels off statistics, says data call for rating upgrade

Citing sound macroeconomic parameters, finance ministry officials on Tuesday pitched for a rating upgrade in their meeting with global rating agency Fitch, reported PTI. The officials also sought to understand how it rates sovereigns as rating agencies have been denying an upgrade citing stress on balance sheets of both banks and corporates.

The ministry also explained the representat

Donald Trump administration poses risks to global sovereigns, says Fitch Ratings

The Trump Administration represents a risk to international economic conditions and global sovereign credit fundamentals, says Fitch Ratings. According to the global rating agency, US policy predictability has diminished, with established international communication channels and relationship norms being set aside and raising the prospect of sudden, unanticipated changes in US policies with pote

Oil firms` merger will face big challenges: Fitch Ratings

The proposed merger of the Indian state-run oil and gas companies would face significant execution challenges in managing integration of employees, addressing overcapacity in the merged entity and getting support for the merger from private shareholders, US rating agency Fitch Ratings said on Tuesday.

"A merger would face significant execution challenges, particularly in terms of