Fitch Rating

(Reuters) -Ratings agency Fitch said two Adani Group subsidiaries were exposed to "heightened contagion risks", possibly affecting their financial flexibility

Rating agency will be monitoring group firms closely for major changes in their access to finance, the cost of financing, regulatory/legal developments and ESG-related matters

After strong 3QFY23 results, TCS NSE 0.19 % (TCS NSE 0.19 %) revenue growth is likely to slow in financial year ending March 2024 (FY24) amid the global economic slowdown, according to Fitch Ratings

The CV sector will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report

Country relatively insulated from volatility due to limited reliance on external financing, says rating agency

Action factors in a high likelihood of sovereign support to the public sector lender; rating agency says profitability to rise further; high loan growth to resume

The rating reflects Bangladesh's strong growth prospects, government debt that is below the 'BB' median and a manageable external debt repayment profile

At a more macro level, Fitch now expects world GDP to grow by 2.4 per cent in 2022 - revised down by 0.5 percentage points (ppt) since the June assessment

The financial condition of Shriram Transport Finance, Muthoot Finance, Manappuram Finance and IIFL Finance is satisfactory, says agency

Rating agency foresees firm's financial leverage worsening as a rise in capex will coincide with lower profitability

Share of utility vehicles in car sales expected to be on an upward trajectory amid growing popularity of such vehicles and automakers' reduced focus on compact hatchbacks owing to rising production

There are growing indications that India's latest wave of Covid-19 infections will add to risks among financial institutions by sapping near-term momentum from the economic recovery

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The revision of the outlook reflects the risks in the company's ability to deleverage and generate positive free cash flow because of the various challenges in the Indian market

Fitch said it was revising the fiscal deficit forecast as revenue collection is likely to fall far short of the projections in the FY20 Union Budget due to weak GST collections

Fitch said the risks around Macrotech's ability to meet domestic debt maturities of Rs 2,000 crore, Rs 5,000 crore, and Rs 4,600 crore in FY20, FY21, and FY22, respectively, are rising

NBFC disbursements have declined steeply as a result, with knock-on effects to other sectors, particularly consumption

Decline in bank's core capitalisation was due to sharp spike in bad loans, including $2.2 bn in fraudulent deals reported in Feb, and related increase in credit costs

Fitch has a BBB-, the lowest investment grade sovereign rating on India, with a stable outlook

Banks are said to be straddled with stressed assets worth up to Rs 12 lakh cr