Page 2 - S&p

OECD, S&P keep India's economic growth forecasts unchanged for FY23

S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

SBI least efficient in Asia-Pacific due to high cost-to-income ratio: Study

State-owned lender had the highest cost-to-income ratio, according to S&P Global Market Intelligence

Wall Street drops 1% with all eyes on Fed policy decision on Wednesday

The benchmark US 10-year Treasury yield hit 3.58%, its highest level since April 2011; Ford sees additional $1 bn in inflationary costs, shares fall

Intense competition may shrink margins of gold loan firms, says S&P

Manappuram, Muthoot not facing refinancing challenge yet

Debt-funded acquisitions can put pressure on Adani group ratings: S&P

Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a USD 10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt. S&P Global Ratings Senior Director (Infrastructure Ratings) Abhishek Dangra said the growth ambitions for most of the group entities are fairly high and they have also grown through acquisitions across multiple entities. "If you look at the rated entities (of Adani group), like Adani Ports, their business fundamental is fairly solid. Port business is generating healthy cash flows. Where, probably, the risk could lie ...

S&P downgrades outlook on Pakistan's long-term ratings to 'negative'

The global economic slowdown poses fresh risks to Pakistan's post-pandemic recovery

MPC likely to raise repo rate significantly in upcoming meetings: S&P

Says there is significant slack in the economy, as GDP is far below estimates of pre-Covid trajectory of potential output

India can weather turbulence without damage to credit ratings: S&P

India is likely to lead the region with 7.3 per cent growth in 2022-23 after the GDP grew 8.7 per cent in 2021-22, said the rating agency

No respite for manufacturers as inflation continues to weigh on the economy

As India's business optimism slid to a 27-month low of 50.9, economists say they do not see a respite for manufacturers from cost inflation in the near term

S&P 500 closes the book on its biggest first-half plunge since 1970

The Dow Jones Industrial Average fell 219.61 points, or 0.71%, to 30,809.70

S&P affirms ICICI Bank's 'BBB-' rating on improved asset quality

As S&P affirms ICICI Bank's BBB rating, an upgrade over the next one to two years is unlikely as that would require an improvement in the bank's financial profile

Nasdaq turns positive after Fed chair's remarks on policy outlook

In his prepared remarks before the Senate Banking Committee, Jerome Powell reiterated that ongoing increases in the policy rate would be appropriate

Growth stocks lift Wall Street ahead of Fed's rate decision; Nasdaq up 1.6%

Market heavyweights Apple Inc, Meta Platforms , Alphabet Inc, Microsoft Corp and Amazon.com Inc added between 1.3% and 2.5%

Services activity at 11-year high in May on post-Covid business growth

The S&P Global India PMI rose to 58.9 in May from 57.9 in April, the highest since April 2011

PMI: Service activity touches 11-year high of 58.9 in May on strong demand

Overall demand rose at the fastest pace since July 2011 as economic activity continued to normalise with the lifting of pandemic restrictions

S&P Global Ratings cuts Ukraine credit rating amid more 'protracted' war

S&P Global Ratings cut Ukraine's rating by one notch amid a more protracted conflict than originally forecast when Russia invaded the nation in February

Tesla loses spot on S&P ESG Index over crashes and work conditions

The index provider also cited concerns related to working conditions and the firm's handling of an investigation into deaths and injuries linked to its driver-assistance systems

S&P cuts India's growth forecast for FY23 to 7.3%, sees inflation at 6.3%

The rating agency assumes that the Russia-Ukraine conflict is more likely to drag on and escalate than end earlier, pushing the risks to the downside

S&P lowers ratings for Future Retail overseas bonds to 'highly vulnerable'

About Rs 100 crore cash, cash equivalents already eroded

Heavy capex preventing deleveraging by Indian renewable energy firms: S&P

Renewables are economically competitive with traditional fuels and benefit from ambitious energy-transition targets in India