Page 4 - S&p

Global debt to hit 260% of GDP, but low interest rates to help: S&P

The pile-on of debt was necessary given policy responses during the pandemic, Vera Chaplin, the credit ratings agency's managing director and lead analytical manager, said

S&P sees indications of strong rebound in Indian economy after Q1

S&P retains 9.5% FY22 growth projection for India

India to post strong GDP growth in coming quarters even with inflation: S&P

India is expected to post strong economic growth in the coming quarters, even as inflation, led by food prices, is likely to remain elevated, S&P Global Ratings said on Wednesday. The economy is expected to clock 9.5 per cent growth in the current fiscal year, followed by 7 per cent expansion in the next year, it said, adding high nominal GDP growth would be important for ensuring fiscal consolidation going forward. "Given India's weak fiscal settings and high stock of debt around 90 per cent of GDP, the nominal GDP growth is going to be very important to prevent any further erosion of fiscal settings in the country and to enable some degree of fiscal consolidation going forward," S&P Global Ratings Director (Sovereign) Andrew Wood said. He said the fiscal deficit would remain elevated over the next two years but debt/GDP ratio is expected to stabilise or flatten out. Wood further said India's external position has strengthened in the context of the pandemic and India has been

S&P places issuer ratings on Tata Group firms on CreditWatch positive

'Although the group companies still operate independently under professional directors and management, we observe a greater influence of Tata Sons on the strategy and financial policies of the group'

S&P upgrades outlook on Indian Bank to stable on funding, liquidity profile

The rating agency affirmed Indian Bank's "BBB-" ratingm but ruled out any upward revision in the next one to two years

S&P upgrades Tata Steel's long-term issuer rating to 'BB' from 'BB-'

The outlook on ratings is stable and reflects the view that the company can adequately deleverage to reduce volatility in credit metrics during industry downturns

Wall St: S&P 500 nears record high on stimulus hopes, strong earnings

Senate unveils $1 trillion infrastructure bill; Square rises on $29 billion Afterpay deal

S&P affirms India's sovereign rating at 'BBB-', keeps outlook stable

But says country's fiscal settings are weak, and deficits will remain elevated ahead even as the government undertakes some consolidation

Top headlines: S&P keeps India's rating at BBB-; PM interacts with athletes

S&P affirms India's sovereign rating at 'BBB-', keeps outlook stable

Top headlines: RBI extends restrictions on PMC, Franklin moves SAT, & more

Business Standard brings you the top news of the evening

Fiscal health of Indian state govts to worsen due to Covid-19: S&P

This is despite a likely rebound in the economy over the next 12-24 months, says rating agency

S&P revises ICICI Bank credit rating outlook to stable from negative

S&P Global Ratings on Friday said it has revised the rating outlook on ICICI Bank Ltd to stable from negative on grounds that the lender will benefit from the sale of stake in subsidiaries. The rating agency affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on ICICI Bank. "We revised the rating outlook to reflect our view that ICICI Bank will maintain its strong capital position over the next 24 months. The bank will benefit from the sale of a stake in subsidiaries and gradual normalization of earnings, which should reduce risks associated with its capital position," it said. In a statement, S&P forecast that ICICI Bank will maintain a risk-adjusted capital (RAC) ratio of more than 10 per cent over the next 24 months. "Our expectation factors in 13-14 per cent credit growth for the bank, an improvement in earnings, and sale of stake in insurance subsidiaries over the period," it said. ICICI Bank's stressed loans (non-performing loans and restructured ...

Credit losses set to decline for most Asia Pacific banks, says S&P

Credit losses are set to fall across most Asia Pacific banking systems over the next two years, S & P Global Ratings said on Tuesday.This is partly because targeted assistance to stretched borrowers will likely continue in many places until pandemic-related challenges substantially abate."Asia Pacific banks should safely avoid a 'cliff effect' even as extensive relief measures are progressively removed," said S & P Global Ratings credit analyst Sharad Jain.Moratoriums on loan repayments -- together with fiscal, monetary and policy support -- have helped cushion the blow to borrowers in Asia Pacific from the Covid-19 outbreak and containment measures.Repayment moratoriums have fallen to less than 5 per cent of system loans for a number of Asia Pacific countries compared with between 6 and 80 per cent at the height of pandemic.S & P forecast credit losses for the 12 larger banking systems in Asia-Pacific: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New ...

Standard and Poors affirms BB/B ratings on IDBI Bank with negative outlook

S & P Global Ratings has affirmed BB long-term and B short-term foreign currency issuer credit ratings on IDBI Bank.It also affirmed BB programme rating on the senior unsecured notes under its medium-term notes (MTN) programme and then withdrew the ratings at the bank's request.S & P said the outlook was negative at the time of withdrawal. "We affirmed the ratings because we expect IDBI Bank's improving financial performance to offset the risk of bank's weakening link with the government."The Union Cabinet has approved strategic disinvestment along with the transfer of management control in IDBI Bank. "We considered this as a key transition risk for the rating over the next 12 to 18 months."The high uncertainty associated with an eventual timeline of divestment raises further transition risk. S & P said the strategic sale in IDBI Bank will likely be challenging in the current year owing to the bank's low equity valuation and wary investor sentiment under Covid-19.S & P

Women CEOs show more inclusive leadership style during Covid peak: S&P

Women CEOs emphasised empathy, adaptability, accountability and diversity more frequently than their male peers in public communications during the peak of Covid-19 pandemic, according to a new analysis from S & P Global in collaboration with researchers from the University of Paris.On average, women CEOs scored higher for positive sentiment and used words related to trust more frequently than men.Utilising advanced natural language processing of 4,958 earnings calls conducted from January 1, 2019 through December 31, 2020, the report represents the results of a joint project between analysts, data scientists and academics affiliated with S & P Global's recently launched Diversity Research Lab and Pantheon-Assas Management Science Research Laboratory (LARGEPA), the management science laboratory within the University of Paris 2 Pantheon-Assas."Our research identified clear gender affinities for key concepts and words during the peak pandemic period across nearly 8,500 companies

Cyberattacks could trigger more rating actions on banks, says S&P

The banking sector is becoming more exposed to cybercrime after the Covid-19 pandemic accelerated digitalization and remote working

Rise in cyber crime post Covid is growing risk to bank ratings: S&P

The banking sector is becoming more exposed to cyber crime after Covid-19 pandemic accelerated digitalisation and remote working, S & P Global Ratings said on Tuesday.Cyber attacks can harm credit ratings mainly through reputational damage and potential monetary losses, it said in a report titled 'Cyber Risk In A New Era: The Effect On Bank Ratings.'"Cyber attacks have had only a limited effect on bank ratings to date but can trigger more rating actions in the future as cyber incidents become more frequent and complex," said Credit Analyst Irina Velieva.Banks and other financial institutions are attractive targets for cyber criminals because they possess valuable personal data and play a critical role in servicing particular financial or economic needs and segments.Institutions with weak risk governance are less prepared for, and therefore more vulnerable to cyber attacks, said S & P in the report."Although it is crucial to learn from previous attacks and strengthen cyber-risk

S&P 500, Dow slip as telecom stocks eclipse upbeat results from retailers

Despite strong results, Home Depot's shares came under pressure due to the lack of a solid outlook and disappointing housing data.

Strengthening of steel prices to support Tata Steel's deleveraging: S&P

Sustained steel prices at these levels could lead to upward rating pressure.

India's sovereign rating to remain at current level for next 2 years: S&P

S&P Global Ratings on Friday said India's credit rating would be retained at the current level for the next two years, and the country will see a slightly faster pace of growth in the next couple of years that will support its sovereign rating. S&P, which had in March seen the Indian economy growing by 11 per cent in the fiscal year to March 2022, saw GDP growth rate dropping to 9.8 per cent under the 'moderate' scenario, where infections peak in May, and falling to as low as 8.2 per cent in 'severe' scenario under which caseload would peak only in late June. Speaking at a webinar on 'What A Drawn Out Second COVID Wave Means For India', S&P Global Ratings Director - Sovereign and Public Finance Ratings - Andrew Wood said in the moderate downside scenario there would not be any major impact on the government's fiscal position. There could be upside pressure on general government fiscal deficit forecast of 11 per cent as revenue generation would be weaker, but debt stock ...