Page 11 - Fitch Ratings

Easier RBI asset quality norms puts banks at risk, mar transparency: Fitch

The new rules signal a shift away from enhancing asset classification

Moody's Investors Service, Fitch Ratings give stable outlook to IIFL

The agency has also assigned a 'BB-' rating to IIFL's USD 1-billion medium-term note (MTN) programme

AGR ruling to impact Voda, Airtel; banks will also be hit: Fitch Ratings

The apex court's ruling will also have significant repercussions for India's banking sector as well as the country's broader economic outlook: Fitch Ratings

Fitch says HPCL refining margins to fall by one-third in current fiscal

Fitch affirmed HPCL's rating 'BBB-' with stable outlook, in line with the credit profile of its largest shareholder Oil and Natural Gas Corp Ltd

Fitch cuts India's GDP growth to 4.6% as credit crunch cripples economy

The rating agency sees moderate fiscal slippage, retains sovereign rating and outlook

Top headlines: M&M's board rejig, Fitch lowers India GDP growth, and more

In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of CEO for a year

Fitch affirms Bank of Baroda's IDR at 'BBB-'; VR off rating watch negative

The lender's performance is likely to stay subdued on weak economy, NBFC stress

Fitch revises outlook on Vedanta-led Cairn India from stable to negative

Oil and gas business is the second-largest contributor to Vedanta's EBITDA, after the Indian zinc operations

Indian banks' NPA write-offs to continue amid low recoveries: Fitch Ratings

The state-owned banks account for a dominant share (around 90 per cent) of impaired loan stock and have cumulatively written-off nearly 30 billion dollars in bad loans over the past three years

Banks need Rs 50,000 cr additional capital to support loan growth: Fitch

Fitch said the rating outlook for most Indian banks mirrors the stable outlook on India's sovereign rating

Liquidity pressures faced by NBFCs, HFCs, to continue: Fitch Ratings

Liquidity pressures faced by the non-banking financial sector following the IL&FS failure are likely to continue though funding costs have come off the peak, Fitch Ratings said on Friday. "We view wholesale and housing finance companies (HFCs) as more vulnerable -- given their higher leverage, weaker asset-and-liability maturity (ALM) profiles and higher concentration risks. Large retail finance companies with well-managed ALM profiles should continue to access bank and capital markets funding. Further, funding diversification in the offshore markets by larger issuers would benefit their funding profiles," it said in its outlook for emerging market finance and leasing companies. Indian finance and leasing companies are likely to grow at a slower pace in 2020 than in prior years, amid weaker economic growth and liquidity constraints, it said. Fitch said its 2020 sector outlook is underpinned by challenging operating environments, lower growth prospects, and rising funding pressure.

Moody's cuts India's credit outlook to negative; govt not convinced

Outlook downgrade comes 2 yrs after ratings upgrade. Govt says fundamentals remain strong

Fitch raises India's FY20 fiscal deficit to 3.6% of GDP on sluggish growth

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 places Bharti on rating watch negative after top court's ARG ruling

RWN resolution may take over six months as it requires clarity on exact amount and timing of payment of dues and whether govt will provide financial relief to telecom sector

Fitch Rating slashes India's GDP growth forecast to 5.5% for FY20

Weakness has been fairly broad-based, with both domestic spending and external demand losing momentum, Fitch said

NBFC crisis: Indian banks could face a $50-billion capital shortfall: Fitch

The weakest, including those with Viability Ratings in the 'b' range, would face heightened solvency risks without capital injections from the government, the rating agency said

India has limited room to ease fiscal policy due to high debt: Fitch

It said GDP (gross domestic product) growth is likely to rebound to 7.1 per cent next year

Fitch too downgrades Macrotech Developers on low liquidity concerns

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

Now Fitch, too, downgrades Lodha to 'B-', warns of more rating cuts

Any rating below BBB- is junk or below investment grade and the city's largest developer has already been having a junk rating by foreign rating agencies

India Ratings defends process after IL&FS row, says Fitch executive dumped

Finding itself at the centre of the IL&FS controversy, India Ratings on Saturday said its investigation into the role of a senior director at parent firm Fitch's Singapore office found him in violation of the company's code of conduct and he is no longer an employee. The rating agency also defended its rating process, saying its ratings for IL&FS group entities followed a robust and transparent analysis of relevant information including the company's audited financial statements and sought to shift the blame to falsification and sprucing up of the financials by the former top management of the group. It rejected the observations made in a special audit by Grant Thornton of the ratings given by five credit rating agencies, including India Ratings, to some IL&FS entities, in which it has been alleged that the agencies continued to give top ratings despite being aware about weak financials of the group. The audit has also flagged attempts by the erstwhile top management of ...