Page 3 - Fitch Ratings

India pitches sharp economic recovery to make case for ratings upgrade

Government officials have admitted that global inflationary pressures due to Russia's invasion of Ukraine have hit household savings and corporate margins, and will impact growth

Fitch downgrades OYO's ratings over uncertainty in making profit

Rating agency expects the company's FY23 revenue to increase by around 30%, lower than its forecast.

Lankan insurance firm set to lose LKR 1 billion due to May 9 violence

Sri Lanka's state-owned insurance firm may incur losses in excess of LKR 1 billion due to the violent clashes between anti- and pro-government protesters on May 9, Fitch said

12 Indian firms at higher risk of downgrade amid rising inflation: Fitch

The Indian utilities and oil & gas sectors, along with Chinese homebuilding, stand out with a high proportion of corporates assessed with a 'low' rating headroom

Utility vehicles' share in sales expected to rise steadily: Fitch Ratingss

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

Fitch Ratings trims India's gas consumption growth to 5% on high prices

Fitch Ratings cut its India gas consumption outlook for the current fiscal to a growth of 5 per cent as the recent spike in domestic gas prices and high LNG rates would slow the shift

OMCs might require to further raise fuel prices: Fitch Ratings

Fitch cited that robust core refining margins as well as windfall inventory gains should allow OMCs to mitigate potential marketing losses in the near term

Oil and gas price hike supports upstream profitability of producers: Fitch

The more than doubling of natural gas prices and rise in oil prices will boost the profitability of oil and gas producers like ONGC and Reliance Industries Ltd, Fitch Ratings said on Tuesday

Fitch cuts FY23 growth forecast to 8.5%, cites soaring energy prices

The rating agency said post-pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation

Fitch cuts FY23 growth forecast to 8.5%, cites soaring energy prices

The rating agency said post-pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation

Fitch slashes FY23 India growth forecast to 8.5% on high energy prices

Rating agency Fitch on Tuesday slashed India's growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing sharply high energy prices on account of the Russia-Ukraine war. With the Omicron wave subsiding quickly, containment measures have been scaled back, setting the stage for a pick-up in GDP growth momentum in the June quarter this year, the agency said. It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 per cent. "However, we have lowered our growth forecast for FY 2022-2023 to 8.5 per cent (-1.8 pp) on sharply higher energy prices," Fitch said while revising up its inflation forecasts. In its Global economic Outlook-March 2022, Fitch said the post-COVID-19 pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation. "The war in Ukraine and economic sanctions on Russia have put global energy supplies at risk. Sanctions seem unlikely to be rescinded a

Moderate asset quality pressure may re-emerge for banks: Fitch

Moderate pressures on asset quality of Indian banks may re-emerge as forbearance starts to unwind from 2023, Fitch Ratings said on Friday

Fitch cuts Russia's rating further into junk, says debt default is imminent

Fitch on Tuesday downgraded Russia's sovereign rating by six notches further into the junk territory to 'C' from 'B'

Top headlines: US bans Russian crude import; India evacuates students

International rating agency Fitch Ratings has downgraded Russia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'C' from 'B'

Fitch downgrades Russia's long-term foreign-currency issuer rating to 'C'

International rating agency Fitch Ratings said it has downgraded Russia's long-term foreign-currency issuer default rating to 'C' from 'B'.

Fitch Ratings stops commercial operations in Russia with immediate effect

Fitch became the 2nd major credit rating firm to suspend its commercial operations in Russia with immediate effect on Monday, saying its analysts outside the country would provide its coverage instead

Russia cut to 'junk' by Moody's, Fitch; tanks roll into Kherson

Moody's cut Russia's ratings to B3 from Baa3, with the ratings company saying there may be further cuts

Moody's ups India's FY23 growth forecast to 8.4%; Fitch maintains 10.3%

Had predicted 7.9%; says oil & supply could spoil party

Uncertainties remain around India's medium-term debt trajectory: Fitch

Fitch Ratings said India's economy is rapidly recovering from the pandemic but uncertainties remain around its medium-term debt trajectory.

Fitch affirms Power Grid Corporation's 'BBB-' rating, outlook 'negative'

The Fitch ratings on Power Grid Corporation of India Ltd are constrained by the credit profile of the India sovereign (BBB-/negative), which owns 51.34 per cent of the company