Page 6 - Care Ratings
Indian firms getting downgraded like never before; credit markets at risk
Ratings have been cut for 847 companies
 "Indian firms getting downgraded like never before; credit markets at risk")
Lockdown 3.0: Rural India may drive demand recovery amid Covid-19 crisis
Top executives at auto, tractor and consumer packaged goods firms are optimistic. They are betting on the reverse migration of labourers boosting consumption and prediction of a favourable monsoon.
 "Lockdown 3.0: Rural India may drive demand recovery amid Covid-19 crisis")
Fundraising via corporate bonds shrinks 1.1% in FY20 as firms favour ECBs
The dip was also due to low demand for investment, as capacity utilisation remained stagnant in the Indian economy
 "Fundraising via corporate bonds shrinks 1.1% in FY20 as firms favour ECBs")
Covid-19: Future Lifestyle seeks recast of payment to operational creditors
CARE Ratings has revised outlook on Future Lifestyle Fashions Ltd's long term loans from "positive" to "negative"
 "Covid-19: Future Lifestyle seeks recast of payment to operational creditors")
CPI inflation slows to 5.91% on easing food prices, may increase in April
Prices are likely to rise again in April, according to analysts, with the actual impact of the Covid-19 and the resultant lockdown yet to be fully seen.
 "CPI inflation slows to 5.91% on easing food prices, may increase in April")
India ports at sea: Cargo handling sinks as coronavirus scuttles economies
Cargo handling at major ports grew 2.8% in FY19, but it grew just 1.4% in FY20 till February end
 "India ports at sea: Cargo handling sinks as coronavirus scuttles economies")
Auto dealers fear heavy losses with BS-IV inventory stuck due to Covid-19
The dealers can only sell BS-IV inventory till April 24, under the current situation. The SC had said the relaxation was not for the Delhi-NCR region, making dealers of the area particularly tense
 "Auto dealers fear heavy losses with BS-IV inventory stuck due to Covid-19")
Bond market disappointed with borrowing plan of Centre, states
Dealers say the huge supply is a concern at a time when volumes have thinned because of Covid
 "Bond market disappointed with borrowing plan of Centre, states")
Airlines, hotels stare at uncertain future amid coronavirus spread: CARE
The aviation industry, which includes airports and their vendors and suppliers, might not fully recover soon from the impact of the coronavirus disease (Covid-19) pandemic.
 "Airlines, hotels stare at uncertain future amid coronavirus spread: CARE")
Auto dealers fear huge losses with BS-IV inventory stuck in Covid-19 jam
They say the 10-day extension given for the sale of these vehicles will serve no purpose as consumer sentiment is not likely to revive after the lockdown is lifted
Covid-19 induced lock-down to dampen investment scenario: Study
Four out of the six parameters- investment rate, bank credit offtake, industrial production of capital goods and new investment projects are pointers to deteriorating investment scenario
 "Covid-19 induced lock-down to dampen investment scenario: Study")
Economy to take Rs 40K-cr hit daily during 21-day lockdown: CARE Ratings
Based on this, Q4 growth may not be negative but can go down to 1.5-2.5 per cent
 "Economy to take Rs 40K-cr hit daily during 21-day lockdown: CARE Ratings")
CARE downgrades rating of Rana Kapoor-linked firm, citing CBI probe
Agency concerned investigation may hit asset valuation, monetisation
 "CARE downgrades rating of Rana Kapoor-linked firm, citing CBI probe")
Coronavirus pandemic could shave off 0.5% of India's GDP: CARE survey
Majority respondents who believe that the RBI will reduce the repo rate, expect a cut between 25 and 50 bps either before or in April 2020
 "Coronavirus pandemic could shave off 0.5% of India's GDP: CARE survey")
Debt Quality Index declines again in February, says CARE Ratings
However, there was a marginal improvement seen in January this year on account of enhancements in higher rated debt papers
 "Debt Quality Index declines again in February, says CARE Ratings")
UTI MF, Nippon India MF side pocket Vodafone Idea exposure of Rs 413 cr
In December 2018, regulator Sebi had permitted mutual funds to create segregated portfolios, or side-pocketing, with respect to debt and money market instruments
 "UTI MF, Nippon India MF side pocket Vodafone Idea exposure of Rs 413 cr")
Care downgrades rating on Vodafone Idea's long term bank facilities, NCDs
It also takes cognizance of recent losses suffered by the company in the quarter ended December
 "Care downgrades rating on Vodafone Idea's long term bank facilities, NCDs")
Sebi directs CARE to initiate inquiries into ex-top officials' past conduct
Former CEO'S and chairman's conduct under question
 "Sebi directs CARE to initiate inquiries into ex-top officials' past conduct")
Sebi issues show-case notice to 2 former senior executives of CARE Ratings
This is for the alleged interference in rating action of YES Bank and DHFL
Sebi seeks explanation from CARE's ex-chairman, MD for rating interference
Markets regulator Sebi has sought explanation from erstwhile managing director and CEO, and chairman of CARE Rating for their interference in the rating process of entities including DHFL, IL&FS and Yes Bank, sources said. In a letter on February 12, the Securities and Exchange Board of India (Sebi) has also asked why the officials should not be debarred from associating as key managerial person or director of any registered intermediary and listed company, they added. In addition, the regulator has asked CARE Rating's board to initiate action against the officials and all the staff members involved in the rating process of the IL&FS debt, the sources said. Incidentally, on the same day, the rating agency announced that S B Mainak resigned as its chairman. The Sebi action comes after the regulator received the forensic audit report on February 11, which was commissioned after a whistleblower complaint. The forensic report, prepared by EY, has scrutinised calls, WhatsApp ...
