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Moody`s affirms India`s sovereign ratings, retains stable outlook Moody's Investors Service has affirmed India's long-term local and foreign-currency sovereign ratings and retained the outlook at stable, it said in a statement on Friday. India's long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating remains at Baa3, while the other short-term local-currency rating stands at P-3, it said. "The affirmation and stable outlook are driven by Moody's view that India's economy is likely to ...
Moody`s affirms India`s sovereign ratings, retains stable outlook
Moody`s affirms India`s sovereign ratings, retains stable outlook
Source: Reuters
18/08/2023 4:47:32 PM
Global NBFI distress may have spillover effect on other sectors: Moodys Amid high interest rates, coupled with lower growth rates, any distress in non-bank financial institution (NBFI) sector globally could have spillover credit impact on many other sectors, said global credit rating agency Moody’s Investors Service. "Some economies could be highly exposed to any pullback in lending if NBFIs provide a significant proportion of credit to the economy, such as in the US and the UK. That said, some specific sectors within emerging markets like China'...
Global NBFI distress may have spillover effect on other sectors: Moodys
Global NBFI distress may have spillover effect on other sectors: Moodys
Source: IANS
20/07/2023 9:54:54 AM
Business route taken by India's renewable IPPs will reflect their credit quality: Moody`s The credit quality of India's large and rated renewable energy independent power producers (IPP) will reflect the different routes they have chosen for the next two to three years, said Moody's Investors Service in a report. According to Moody's, the paths chosen by the renewable energy IPPs will have a varying impact on their respective business and financial risk profiles. Investment in green hydrogen could lead to further differentiation. Of the eight rated Indian IPPs, t...
Business route taken by India's renewable IPPs will reflect their credit quality: Moody`s
Business route taken by India's renewable IPPs will reflect their credit quality: Moody`s
Source: IANS
20/06/2023 2:45:34 PM
India`s debt burden likely to decline if nominal GDP growth holds: Moody`s Moody's Investors Service in its latest report has said the key determinant of India's fiscal strength and the credit profile will be debt affordability and projected a downward trend for the debt burden. It stated as long as nominal GDP growth holds, India's debt burden will be stable or decline slightly. It mentioned India's fast-growing GDP, which is estimated to average 11 per cent in nominal terms, is a key driver of the projections of a downward trend in the country&#...
India`s debt burden likely to decline if nominal GDP growth holds: Moody`s
India`s debt burden likely to decline if nominal GDP growth holds: Moody`s
Source: Accord Fintech
16/06/2023 10:54:59 AM
Credit quality of Indian banks, non-bank financial institutions to remain resilient: Moody`s Moody's Investors Service in its latest report has said that the credit quality of Indian banks and non-bank financial institutions will remain resilient despite a challenging environment for banks globally. It said strong domestic demand in India, improving credit conditions for bank borrowers, and strengthened solvency and funding of Indian financial institutions will support their credit quality.  Moody's said credit conditions in India have gradually improved, with a signi...
Credit quality of Indian banks, non-bank financial institutions to remain resilient: Moody`s
Credit quality of Indian banks, non-bank financial institutions to remain resilient: Moody`s
Source: Accord Fintech
15/06/2023 2:27:51 PM
Policy barriers, bureaucracy could slow pace of investment in India - Moody`s The pace of investment in India's manufacturing and infrastructure sectors could decrease due to slower policy implementation and bureaucracy despite the economy's strong potential, Moody's Investors Service said on Tuesday. "India's higher bureaucracy in decision making will reduce its attractiveness as a destination for foreign direct investment, especially when competing with other developing economies in the region, such as Indonesia and Vietnam," according to...
Policy barriers, bureaucracy could slow pace of investment in India - Moody`s
Policy barriers, bureaucracy could slow pace of investment in India - Moody`s
Source: Reuters
23/05/2023 6:24:33 PM
Highest sovereign defaults in 2022, two in 2023: Moody`s  Global credit rating agency Moody's Investors Service on Friday said that 2022 saw a spike in the annual sovereign bond defaults with seven countries defaulting on repayments. In 2023, there were two sovereign defaults - Argentina and Mozambique. In a report, Moody's said the year 2022 saw the highest number of defaults since 1983. "Seven sovereigns defaulted during the year, namely Mali (Caa2 stable), Russia (rating withdrawn), Sri Lanka (Ca stable), Belarus (Ca n...
Highest sovereign defaults in 2022, two in 2023: Moody`s
Highest sovereign defaults in 2022, two in 2023: Moody`s
Source: IANS
14/04/2023 2:43:24 PM
Moody`s upgrades IIFL Finance's rating to B1 from B2; outlook stable Singapore, April 06, 2023 -- Moody's Investors Service has upgraded IIFL Finance Limited's (IIFL Finance) long-term corporate family rating to B1 from B2, foreign currency senior secured debt rating to B1 from B2, and foreign and local currency senior secured medium-term note program ratings to (P)B1 from (P)B2. The rating upgrades are driven by strong momentum from the company's asset-light model that has improved its proftability, capital and funding. The ratings outlook r...
Moody`s upgrades IIFL Finance's rating to B1 from B2; outlook stable
Moody`s upgrades IIFL Finance's rating to B1 from B2; outlook stable
Source: PR Agency
7/04/2023 5:49:47 PM
Most Asia-Pacific financial institutions not exposed to failed US banks: Moody's Moody's Investors Service in its latest report has said that most Asia-Pacific (APAC) financial institutions are not exposed to the failed US banks and are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was. On March 12, US regulators closed Signature Bank, just two days after shutting Silicon Valley Bank, following mass withdrawals of customer deposits from these regional banks. The US-based rating agency said these events are likely to result in...
Most Asia-Pacific financial institutions not exposed to failed US banks: Moody's
Most Asia-Pacific financial institutions not exposed to failed US banks: Moody's
Source: Accord Fintech
15/03/2023 12:11:44 PM
Moody`s maintains stable outlook on Indian banks Moody's Investors Service has said that the banking sector outlook remains stable and is supported by economic growth and improved financials. It said ‘while we expect the country's real GDP growth to moderate in the fiscal year ending March 2024 (fiscal 2024), India's underlying growth potential is fundamentally strong, which will support banks' credit growth and asset quality.’ However, it said loans to small and medium-size enterprises (SMEs) continue to pose...
Moody`s maintains stable outlook on Indian banks
Moody`s maintains stable outlook on Indian banks
Source: Accord Fintech
2/03/2023 12:18:11 PM
Moodys raises Indias economic growth projections Global credit rating agency Moody's Investors Service on Wednesday raised India's economic growth projections as well as several economies like the US, Russia, Euro area, China and others. In all cases, strong data in the second half of 2022 created large carry-over effects for 2023, Moody's said. It has projected India's growth at 5.5 per cent in 2023 and 6.5 per cent for 2024. In the case of inflation rate, Moody's has predicted 6.1 per cent for 2023 and 5.5 per...
Moodys raises Indias economic growth projections
Moodys raises Indias economic growth projections
Source: IANS
1/03/2023 11:59:40 AM
India reaps pricing benefits of crude oil imports from Russia In the case of oil imports, India till now is on a firm path of sourcing the product cheaply from Russia since the latters invasion of Ukraine. This is much against the wishes of the western powers who want to bring down the Russian economy by curbing its oil revenue. However, the Indian government has categorically said that it would source what it needs from where the price is advantageous. The government also said its three oil marketing companies are not buying crude from Russia ...
India reaps pricing benefits of crude oil imports from Russia
India reaps pricing benefits of crude oil imports from Russia
Source: IANS
19/02/2023 10:12:55 AM
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP: Moody`s Christian de Guzman Moody's Investors Service’s senior vice president, Christian de Guzman has said the Indian federal government's aim to achieve a fiscal deficit target of 4.5% of gross domestic product (GDP) by 2025/26 (FY26) could see some risks. Guzman said the current pattern suggests that perhaps there could be some upward pressure on expenditure especially if they (government) continue with this focus on capex. The government's budget gap, which hit a high of 9.5% of GDP in 2020/21 a...
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP: Moody`s Christian de Guzman
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP: Moody`s Christian de Guzman
Source: Accord Fintech
2/02/2023 11:24:34 AM
Moody`s withdraws IDBI Bank's credit ratings for business reasons Global credit rating agency Moody's Investors Service on Monday said it has withdrawn IDBI Bank Ltd's ratings for business reasons. According to Moody's, it has withdrawn the Ba1/NP long-term (LT) and short-term (ST) local and foreign currency counterparty risk ratings (CRR), Ba2/NP LT and ST local and foreign currency bank deposit ratings, Ba2 foreign currency senior unsecured rating, Ba1(cr)/NP(cr) LT and ST counterparty risk assessments (CRA), and b1 baseline credit assessme...
Moody`s withdraws IDBI Bank's credit ratings for business reasons
Moody`s withdraws IDBI Bank's credit ratings for business reasons
Source: IANS
30/01/2023 2:33:18 PM
Moody's upgrades ratings on 3 Indian state-run banks, affirms State Bank of India at Baa3 Moody's Investors Service on Friday upgraded long-term currency deposit ratings for three Indian state-run lenders on improving credit metrics, better macro economic health and a bet on government support for financial institutions. The ratings agency lifted Bank of Baroda, Punjab National Bank and Canara Bank to Baa3 from Ba1, and affirmed State Bank of India's rating at Baa3, while upgrading its baseline credit assessment and additional tier 1 securities program rating to Ba1 and...
Moody's upgrades ratings on 3 Indian state-run banks, affirms State Bank of India at Baa3
Moody's upgrades ratings on 3 Indian state-run banks, affirms State Bank of India at Baa3
Source: Reuters
20/01/2023 12:11:56 PM
Asset quality of Indian banks will be stable in 2023: Moody's The asset quality ofc banks and those in Southeast Asian countries will be stable in 2023, said Moody's Investors Service in its latest report on the banking sector in emerging markets. Indian banks will benefit from a stable operating environment and significant improvements in their solvency metrics, the report notes. According to Moody's, the rising interest rates amid high inflation will lead to gradual increases in margins, supporting banks' revenue. On the other han...
Asset quality of Indian banks will be stable in 2023: Moody's
Asset quality of Indian banks will be stable in 2023: Moody's
Source: Reuters
19/01/2023 12:19:58 PM
Geographical diversification of semiconductor chip manufacturing to happen: Moody's The increasing geopolitical pressure will have limited immediate effect on semiconductor supply chains but in the longer term, will lead to geographic diversification of production capacity and investments of Taiwanese semiconductor companies, said Moody's investor Service. This geographic shift will involve substantial investments and raisec economic concerns for Taiwan, and China, which are credit negative for the Taiwanese government and related chipmaking companies, it said. &qu...
Geographical diversification of semiconductor chip manufacturing to happen: Moody's
Geographical diversification of semiconductor chip manufacturing to happen: Moody's
Source: IANS
18/01/2023 5:15:49 PM
Higher premium, underwriting discipline by PSUs will ease profitability pressure on Indian insurers: Moody's The combo - premium growth and better underwriting discipline by public sector players - will ease the profitability pressure in both life and general insurance sectors, said Moody's Investors Service in a report. According to Moody's, the pressure on profitability of Indian insurers is due to rising claims and reinsurance costs. In a report, Moody's said the Indian insurance industry's growth prospects are favorable, underpinned by an expected seven per cent expansion o...
Higher premium, underwriting discipline by PSUs will ease profitability pressure on Indian insurers: Moody's
Higher premium, underwriting discipline by PSUs will ease profitability pressure on Indian insurers: Moody's
Source: IANS
18/01/2023 5:05:39 PM
Credit worthiness of India, others in APAC to be stable: Moody``s The credit worthiness outlook for sovereigns in the Asia-Pacific (APAC) region, including India for 2023 is stable as compared to the negative outlook for sovereigns globally, said credit rating agency Moody's Investors Service on Monday. In its latest report Moody's said, the debt sustainability and financial stability are relatively well anchored in the region, with contained government liquidity risks, broadly stable debt dynamics and generally sound external positions. Accor...
Credit worthiness of India, others in APAC to be stable: Moody``s
Credit worthiness of India, others in APAC to be stable: Moody``s
Source: IANS
9/01/2023 12:00:58 PM
India, China converging to high income levels: Moody`s Of a select group of 27 middle-income sovereigns that Moody's rates globally, 13, including India and China, are clearly converging to high-income levels, said Moody's Investors Service on Thursday. "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. According to Moody's, a higher cost of living and the erosion in disposable incomes on the back ...
India, China converging to high income levels: Moody`s
India, China converging to high income levels: Moody`s
Source: IANS
10/11/2022 12:52:54 PM
Moody's says India a bright spot in global steel demand Indian demand remains a bright spot in major steel markets as domestic consumption is seen growing at a "high single digit" rate over the next 12-15 months, a senior executive at Moody's Investors Service said on Monday. India, the world's second-largest crude steel producer, posted 11.4% growth in finished steel consumption during April-October to 65.5 million tonnes. "India remains the bright spot because the underlying steel demand still remains quite solid,&qu...
Moody's says India a bright spot in global steel demand
Moody's says India a bright spot in global steel demand
Source: Reuters
7/11/2022 8:12:28 PM
Global economy to grow at 2.7% in 2022, 2.3% in 2023: Moody`s Analytics Moody's Analytics on Monday predicted the global economy to grow at 2.7 per cent in 2022 and slow to 2.3 per cent in 2023. In its latest report, Moody's Analytics said the global environment is more fragile as record high inflation in the US and Europe continues to gain momentum while growth decelerates. Stagflation risks have risen worldwide, but a stagflationary environment would take months to be realised. Business sentiment remains muted and is consistent with a global ec...
Global economy to grow at 2.7% in 2022, 2.3% in 2023: Moody`s Analytics
Global economy to grow at 2.7% in 2022, 2.3% in 2023: Moody`s Analytics
Source: IANS
26/09/2022 12:52:10 PM
Moody`s withdraws rating of Kalyan Jewellers Credit rating agency Moody's Investors Service on Tuesday said it has withdrawn Kalyan Jewellers India Limited's (KJIL) B2 long-term corporate family rating. The rating outlook prior to withdrawal was stable. "In view of the current market conditions, the company has pushed back its plans to access the international debt capital markets. Moody's has decided to withdraw the rating for its own business reasons," Moody's said. The Rs 9,056 crore revenue Kalyan ...
Moody`s withdraws rating of Kalyan Jewellers
Moody`s withdraws rating of Kalyan Jewellers
Source: IANS
20/09/2022 2:57:59 PM
Majority of India`s rated core sector borrowers can withstand rupee depreciation: Moody's Majority of India's rated infrastructure issues can withstand further depreciation of rupee owing to their financial hedges and other mitigants, said Moody's Investors Service. However, a small number of issuers are vulnerable if the US dollar/rupee depreciates to the mid-to-high Rs 80 range, because of their reliance on imperfect financial hedges. "Corporate infrastructure issuers are generally better positioned to manage their exposure when compared to project finance iss...
Majority of India`s rated core sector borrowers can withstand rupee depreciation: Moody's
Majority of India`s rated core sector borrowers can withstand rupee depreciation: Moody's
Source: IANS
15/09/2022 5:25:27 PM
Moody's cuts G-20 nations' GDP growth to 2.5% in 2022 Government policy support coupled with improving competitiveness of renewable energy will fuel Emerging Asia's (EM Asia) long-term transition to a lower carbon energy mix, albeit at different speeds, said Moody's Investors Service in a new report. However, key challenges remain for certain countries, including inconsistent policy implementation and high leverage to fund renewables' capacity expansion. "Government policies, such as priority in dispatch and mandatory rene...
Moody's cuts G-20 nations' GDP growth to 2.5% in 2022
Moody's cuts G-20 nations' GDP growth to 2.5% in 2022
Source: IANS
31/08/2022 5:09:30 PM
LIC once listed would result into increased transparency: Moody's As a listed company, LIC will face more demanding disclosure requirements, resulting in increased transparency over its operations, and encouraging it to prioritize profitable underwriting and risk management, Moody's Investor Service said. It will, in turn, boost its capacity to generate and grow capital internally. "We see the arrival of external shareholders with experience of the insurance industry as a further key benefit of the IPO. We believe the presence of foreign stak...
LIC once listed would result into increased transparency: Moody's
LIC once listed would result into increased transparency: Moody's
Source: IANS
5/05/2022 12:23:07 PM
Indian companies’ value of investments in Russia’s oil and gas fields could be impaired: Moody’s Moody’s Investors Service has said  that Indian companies’ value of investments in Russia’s oil and gas fields could be impaired as import bans and international sanctions may constraint future cash flow generating capacity. Oil and Natural Gas Corporation (ONGC), Oil India (OIL), Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) have invested in upstream oil and gas assets in Russia. While multinationals like BP and Shell have announced withdrawal fr...
Indian companies’ value of investments in Russia’s oil and gas fields could be impaired: Moody’s
Indian companies’ value of investments in Russia’s oil and gas fields could be impaired: Moody’s
Source: Accord Fintech
25/03/2022 10:18:03 AM
Moody's cuts India 2022 growth forecast on high oil prices Moody's Investors Service on Thursday revised its India's GDP forecast down to 9.1 per cent from 9.5 per cent for 2022. As per Global Macro Outlook 2022-23 (March 2022 updated), India is particularly vulnerable to high oil prices given that it is a large importer of crude oil. Lately, the geo political crisis involving Russia and Ukraine have pushed Brent crude oil price higher. Currently, Russia is the third largest producer of crude oil in the world. For India, the trend...
Moody's cuts India 2022 growth forecast on high oil prices
Moody's cuts India 2022 growth forecast on high oil prices
Source: IANS
17/03/2022 2:59:12 PM
Key News - GAIL, Life Insurance Corporation ,Mankind Pharma, Moody's Investors Service By ARETE Securities Key News GAIL to connect Srinagar to gas grid; Mumbai-Nagpur line by May 2023 State-owned GAIL India Ltd plans to lay a pipeline to Srinagar to take the environmentally friendly natural gas to the Kashmir Valley as it doubles down on efforts to expand infrastructure to helm the government vision of a gas-based economy, its chairman and managing director Manoj Jain said. GAIL will by May 2023 complete a 700-km pipeline from Mumbai to Nagpur, enabling the flow of gas to central India a...
Key News - GAIL, Life Insurance Corporation ,Mankind Pharma, Moody's Investors Service By ARETE Securities
Key News - GAIL, Life Insurance Corporation ,Mankind Pharma, Moody's Investors Service By ARETE Securities
Source: ARETE Securities Ltd
17/02/2022 9:13:57 AM
Covid to impact performance of asset-backed securities: Moody`s The economic slowdown caused by the resurgence of Covid-19 in India will impact the performance of asset backed securities (ABS) such as commercial vehicle loans, among others, said Moody's Investors Service. "Slowing economic activity in India due to the second wave (of Covid-19) will constrain commercial vehicle owners' capacity to pay auto loans. As a result, commercial vehicle loan delinquencies will increase in India and collection rates will remain below the March levels...
Covid to impact performance of asset-backed securities: Moody`s
Covid to impact performance of asset-backed securities: Moody`s
Source: IANS
1/06/2021 3:38:01 PM
Resurgence of COVID-19 infections in India to put brakes on companies earnings recovery: Moody`s Moody’s Investors Service in its latest report has said if the second wave of the pandemic does not decline to more manageable levels and results in a prolonged and wider lockdowns, it will have a more severe effect on companies’ earnings recovery. It said the resurgence of coronavirus infections in India that has led to regional lockdowns will put the brakes on rated companies’ earnings recovery seen in recent months. Earnings have seen a rising trend since October 2020 ...
Resurgence of COVID-19 infections in India to put brakes on companies earnings recovery: Moody`s
Resurgence of COVID-19 infections in India to put brakes on companies earnings recovery: Moody`s
Source: Accord Fintech
18/05/2021 11:29:52 AM
India's consumption, investment demand recovers: Moody's, ICRA Moody's Investors Service has affirmed a stable outlook for non-financial corporates in India on the back of easing pandemic restrictions, the government stimulus aimed at boosting consumption and investment, and a benign funding environment. Besides, its Indian affiliate -- ICRA -- has changed its outlook for some sectors, such as auto and textiles, to stable from negative on expectations of a swift demand recovery. "A rising preference for personal mobility vehicles, along wi...
India's consumption, investment demand recovers: Moody's, ICRA
India's consumption, investment demand recovers: Moody's, ICRA
Source: IANS
26/02/2021 10:35:23 AM
Moody's expects India's fiscal position to remain weak Moody's Investors Service says that India's (Baa3 negative) weak fiscal position will remain a key credit challenge in 2021. According to Moody's, the prospects for fiscal consolidation remain weak particularly given the government's mixed track record of implementing revenue-raising measures. Although the government has not provided an explicit medium-term fiscal consolidation road map, according to its Budget speech it targets a fiscal deficit of 4.5 per cent of GDP by...
Moody's expects India's fiscal position to remain weak
Moody's expects India's fiscal position to remain weak
Source: IANS
25/02/2021 3:41:14 PM
RBI tightening supervision of largest NBFCs to avoid systemic spillovers: Moody's India's risk-based internal audit requirement for non-banking finance companies is credit positive, Moodys Investors Service said. The Reserve Bank of India (RBI) issued guidelines for the country's largest non-banking finance companies (NBFCs) to implement a risk-based internal audit framework, in line with banks. The framework requires an NBFC's internal audit function to assess risks independently of its existing risk-management functions. The requirement is credit positi...
RBI tightening supervision of largest NBFCs to avoid systemic spillovers: Moody's
RBI tightening supervision of largest NBFCs to avoid systemic spillovers: Moody's
Source: IANS
8/02/2021 1:43:47 PM
Capital infusion, bad bank announcement boost banking stocks The government's recapitalisation support of Rs 20,000 crore to state-run banks, announced in the budget along with the decision to form a bad bank, have been a major support for the investors having put their money in the banking shares. A recent report by Moody's Investors Service said that the proposed asset reconstruction company (ARC), described as a bad bank in common parlance, will resolve legacy problem loans and will be credit positive for banking system. The allocation...
Capital infusion, bad bank announcement boost banking stocks
Capital infusion, bad bank announcement boost banking stocks
Source: IANS
6/02/2021 9:40:43 AM