Moody's Ratings

Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will impact the group's ability to raise capital

Weak rupee, and high oil prices cited as reasons for the downward revision

Moody's Investors Service on Thursday slashed India's economic growth projection for 2022 to 7.7 per cent, saying that rising interest rates, uneven monsoon, and slowing global growth will dampen economic momentum on a sequential basis. Moody's had in May projected India's GDP to expand by 8.8 per cent this year. The economy grew by 8.3 per cent in 2021 and contracted by 6.7 per cent in 2020, the year when the pandemic struck the country. In its update to Global Macro Outlook 2022-23, Moody's said India's central bank is likely to remain hawkish this year and maintain a reasonably tight policy stance in 2023 to prevent domestic inflationary pressures from building further. Our expectation that India's real GDP growth will slow from 8.3 per cent in 2021 to 7.7 per cent in 2022 and to decelerate further to 5.2 per cent in 2023 assumes that rising interest rates, uneven distribution of monsoons, and slowing global growth will dampen economic momentum on a sequential basis, Moody's ...

In its update to Global Macro Outlook 2022-23, Moody's said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year

Debt maturities to stay elevated in Fy23; Fy24

Vedanta had recently announced that its board of directors have formed a subcommittee to evaluate a potential spinoff of its aluminum, iron and steel, and oil and gas businesses into separate listed c

The economy is yet to reach pre-pandemic level on many fronts, fiscal deficit and debt-to-GDP ratio remain pain points; however, key reforms could work in the country's favour

Moody's senior vice president Christian de Guzman speaks about the rating agency's upgraded ratings outlook for India and more.

The nine companies whose rating outlook has been revised upwards are RIL, TCS, Infosys, ONGC, Petronet LNG, UltraTech Cement, Oil India, IOC and HPCL

While the share of oil in India's import basket is as much as 22.5% currently, a falling rupee could fuel inflation and take the steam out of low interest rates

The stable outlook underscores Moody's view that Tata Steel will continue to strengthen its balance sheet, liquidity profile and financial policies to enhance its credit quality further

Moody's Investors Service has downgraded Delhi International Airport Ltd's (DIAL's) corporate family rating and senior secured ratings to B1 from Ba3.

Outlook negative; Moody's says reduction in revenue will lead to additional debt being required to complete the airport's expansion

Owing to Covid pandemic, rating agency sees India's general govt deficit at 11.8% of GDP in FY22 as against previous forecast of 10.8%

Moody's Investors Service on Friday affirmed an investment grade rating of Baa3 with negative outlook on senior secured bonds of Adani Transmission Ltd (ATL).

The agency said Muthoot Finance the third non-bank finance company it rates is better positioned because of its focus on the gold loans business.

Failure may result in weakened liquidity for the group, says Moody's.

Here are the top 10 business headlines on Tuesday morning

Moody's expects JSW's leverage will increase to an estimated 6.4x by the end of fiscal 2021

Now all three rating agencies, Moody's, Fitch and S&P have the lowest investment grade rating for India