Page 6 - S&p Global Ratings

Jain Irrigation Systems cut to 'selective default' by S&P Global Ratings

The company missed certain principal payments under its working capital facilities and S&P sees a "high likelihood" that the firm would be classified as a nonperforming asset by its bankers

S&P downgrades Jain Irrigation to 'D' on missed principal payments

S&P said there was a high likelihood that the company would be classified as a nonperforming asset by its relationship bankers

Rs 70K-cr capital infusion in PSBs credit positive, to boost economy: S&P

The proposed Rs 70,000-crore capital infusion into public sector banks (PSBs) will provide a timely booster to these lenders, S&P Global Ratings has said. The move, announced in the Budget, is likely to be credit positive for the banking sector and the economy, S&P said in a note titled 'India's Budget attempts to address trust deficit in the financial sector. "We believe the capital infusion will help PSBs make necessary haircuts on their weak corporate loans and shore up their capital adequacy," said S&P Global rating credit analyst Geeta Chugh. The capital infusion will help some banks to come out of the central bank's prompt corrective action and resume lending and clean up their balance sheets, she added. S&P said it believe PSBs still require substantial reforms to improve risk management, service quality, efficiency, and diversity of product offerings. While the government has infused large amounts of capital into PSBs in the past few years, the progress on ...

S&P Global Ratings revises outlook on Tata Steel to positive from stable

Tata Steel will continue to support its 100% subsidiary Tata Steel UK Holdings when needed.

S&P Global, Ness Digital to set up talent centre in Hyderabad

BS ReporterHyderabad, 17 July:Custom software and digital services company Ness Digital Engineering is setting up a dedicated global talent center(GTC) with 600-800 seating capacity for S&P Global in Hyderabad. Ness is a long term partner of the global ratings, bench marks and analytics company and is currently using a part of its existing facility in Mind Space IT Park for the S&P Global's requirements. Though S&P has a few of its own development centers across the globe, this is the first dedicated technology center being set up by one of its technology partner.Ness has already taken 2 floors on lease at Divya Sree IT Park in the city and the entire work of S&P will be moved to this new facility by the second quarter of next year, according to the company officials. This center will handle the work related to the ratings platform, cloud technology, data and analytics among other operational requirements of the global ratings company. "With this collaboration Ness ...

Indian pharma firms need to increase R&D investment: S&P Global ratings

Indian pharma firms need to increase investments in research and development and quality of manufacturing to comply with global regulatory standards and take on competition, S&P Global Ratings said today. "We believe Indian pharma companies will feel growing pains, at least over the next two to three years," S&P Global Ratings credit analyst Vishal Kulkarni said. However, companies that continue to invest in meeting compliance standards while growing are likely to emerge stronger over the longer term, thanks to their still-healthy margins, low leverage, and support from promoters, he added. As per the report titled 'Indian Pharma Companies Need To Pass The Trials, But Can They Shape Up?', the rating agency does not expect any let up in the scrutiny of Indian pharma companies by the US Food and Drug Administration (USFDA). "These companies will therefore need to strengthen systems and controls to effectively address regulatory issues," the report said. The pricing pressure

S&P challenges Arvind Subramanian's 'inconsistent' standards remark

Rating methodologies are transparent & consistent, contended the global rating agency

Domestic demand, exports to help Indian companies: S&P global Ratings

The key risk to revenue growth for the current fiscal is a short-term fall in demand