Mumbai: Moody’s Ratings has affirmed private lender YES Bank’s Ba3 long-term foreign currency and local currency ratings. The agency also changed the outlook to positive from stable. The change in outlook reflects Moody’s expectations that a gradual improvement in YES Bank’s depositor base and lending franchise will help improve its core profitability over the next … Read more
Moody’s raised China’s growth forecast for 2024 to 4.5% from 4.0%, it said in a statement released on Monday, noting that China’s post-pandemic manufacturing and export-focused growth strategy is taking shape. Growth in the first quarter was boosted by trade and manufacturing activity, with fiscal policy supporting the latter, the ratings agency said. Source link
S&P Global Ratings on Friday downgraded Vedanta Resources to among its lowest ratings citing a “distressed” bond extension move, marking the second downgrade of the company this week. The agency reduced Vedanta’s issuer rating to “SD” or “selective default” from “CC,” indicating the agency believes the company has defaulted on some payments but will meet … Read more
Moody’s Investors Service has upgraded the corporate family rating of Tata Power Company to Ba1 from Ba2 and maintained a stable outlook while observing that the company’s underlying business and financial profile will remain stable at least over the next 12 to 18 months. “The rating upgrade to Ba1 is driven by Tata Power’s solid … Read more
Falling key raw material costs, robust domestic consumption and sustained government spending on infrastructure will support earnings of India’s non-financial companies, Moody’s Investors Service said. Earnings before interest, taxes, depreciation and amortisation (EBITDA) of Indian companies rated by Moody’s will grow 5%-10% over the next two years as prices of key raw materials like crude … Read more
Moody’s Investors Service on Thursday lowered calendar 2022 growth forecast for India to 8.8% from 9.1% it projected in March, saying higher prices of crude oil, food and fertiliser will weigh on household finances and spending in the months ahead. The rating agency maintained its 2023 growth forecast for India at 5.4%. Moody’s also slashed … Read more
The ongoing Russia-Ukraine military conflict and the geopolitical and economic uncertainties are likely to further worsen the global semi-conductor shortage, Moody’s Analytics said in a report on Friday.COVID-19 pandemic has caused shipping costs to skyrocket over 300 percent and will continue to be high due to the scarcity of new containers. According to Moody’s Analytics … Read more
(This story originally appeared in on Jan 21, 2022) MUMBAI: The listing of Life Insurance Corporation (LIC) and other government-owned non-life companies will bring about reforms in terms of better focus on underwriting & products, transparency, governance and risk management, according to Moody’s. In an interview with TOI, Moody’s vice-president and senior analyst Mohammed Ali … Read more
The Indian financial system is likely to face challenges due to the stiff green-energy commitments of the country as more than a fourth of banking sector loans are to the so-called polluting industries, Moody’s Investors Service said. But its immediate outlook for Indian banks is stable as a likely pick up in lending growth in … Read more
Moody’s Investors Service in its latest report has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. Steady progress in Covid vaccination will support a sustained recovery in India’s economic activity, Moody’s analyst Sweta Patodia said. “Consumer … Read more