Fitch

Fitch Ratings on Tuesday lowered its GDP growth projections for the current fiscal to 6.4 per cent from the earlier estimate of 6.7 per cent, saying that the US-Iran war will slow down the economy in the September and December quarters. Fitch said it expects a slowdown in economic growth in FY27 from the 7.4 per cent clocked in FY26 as rising prices erode real incomes and dampen consumer spending, amid a resilient capital expenditure. "We expect GDP growth to ease to 6.4 per cent in FY27, a downward revision of 0.3pp from March. Domestic demand will be the main driver of growth, but lower imports in real terms imply positive contributions to growth from net external demand," Fitch Ratings said in its June Global Economic Outlook. Last week, the RBI had cut its growth forecast for the current fiscal to 6.6 per cent and upped its inflation projection to 5.1 per cent. The rating agency said the slowdown in the economy will be most apparent in the second and third quarter of FY27, as

The ratings agency expects the banking ‌system's average common equity tier 1 (CET1) to decrease by 30 basis points in the financial year 2027-28

Fitch warns India's fiscal deficit may exceed the FY27 target due to higher subsidies and policy support, while Moody's sees rising inflation and unemployment risks

Fitch Ratings on Tuesday said significant ownership by foreign shareholders can be positive for Indian financial institutions' credit profiles through long-term capital, as well as lifting of governance standards in some cases. However, foreign interest is not in itself a reliable signal of stronger credit fundamentals. Transactions that strengthen internal controls, risk management and leadership accountability can be more credit-relevant than those purely for financial gains, it noted. Fitch said recent greater interest from foreign investors indicates their rising confidence in India's long-term growth prospects, the financial sector's regulations and oversight, and improved risk governance. Fitch believes investors will seek platforms with scalable distribution and local expertise. "Acquirors with experience in developed markets may introduce enhancements in risk controls and board oversight," it said, adding that the presence of reputable strategic shareholders can potentially

Indian banks are set to benefit from enhanced oversight by the Reserve Bank of India (RBI) and a more robust supervisory toolkit, which should reduce systemic risks and improve the operating environment, a report said. These shifts, paired with strong economic growth prospects and reduced inflation risks, are credit positive for the sector, global rating agency Fitch said in a report. "We believe regulatory responses to stress events, frameworks for monitoring risks and recovery of impaired loans have improved in recent years. Consequently, weaknesses that contributed to the last non-performing loan spike between the financial year ended March 2016 (FY16) and FY18 have been significantly reduced," it said. Banking system metrics are the strongest in years. However, some more recent reforms have not been tested in a down cycle, it said, adding that the sector non-performing loan ratio fell to 2.2 per cent in 1HFY26 (from a peak of 11.2 per cent in FY18). The common equity Tier 1 rati

Fitch Ratings on Thursday raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms. It said falling inflation gives the Reserve Bank of India (RBI) room for one more policy rate cut in December to 5.25 per cent, following 100 bp of cuts in 2025 so far. Fitch said GDP growth accelerated further in the July-September quarter to 8.2 per cent, from 7.8 per cent in the April-June quarter. "Growth will ease over the remainder of the financial year 2025-26 (to end-March), but we have raised our full-year growth forecast to 7.4 per cent, from 6.9 per cent in September," Fitch said in its Global Economic Outlook report for December. Private consumer spending is the main driver of growth this year, supported by strong real income dynamics, increased consumer sentiment, and the impact of recently implemented goods and services tax (GST) reforms. Effective September 22, GST on abo

Fitch Ratings has revised its outlook on two Adani group firms, Adani Ports and Special Economic Zone and Adani Energy Solutions, to 'Stable' from 'Negative', saying the contagion risks across the conglomerate have eased. Fitch affirmed the two companies' long-term issuer default ratings at 'BBB-'. The agency also affirmed the 'BBB-' ratings on Adani Electricity Mumbai Ltd's (AEML) senior secured notes and those issued by Adani Energy Solutions Ltd's (AESL) subsidiary, Adani Transmission Step-One Ltd. The outlook revisions reflect Fitch's view that contagion risks across the Adani Group have eased. The conglomerate has retained access to diversified funding sources despite a November 2024 US indictment involving board members of a group entity, Adani Green Energy Ltd. Fitch also cited a September 2025 ruling by India's market regulator Sebi, which found no violations of disclosure norms or evidence of market manipulation as alleged in a 2023 short-seller report. Fitch said liquid

Global growth is now forecast to be 2.4 per cent in 2025, up 0.2 percentage points (pp) since June but a sizable slowdown from 2.9 per cent last year and below trend

Fitch Ratings on Friday cut India's GDP projections for the current fiscal to 6.3 per cent and said it expects a limited direct impact of higher US tariffs on Indian corporates. In its Global Economic Outlook in April, Fitch had estimated India's GDP growth at 6.4 per cent for 2025-26. "We expect India's GDP growth of 6.3 per cent and robust infrastructure spending to underpin healthy demand for cement and building materials, electricity, petroleum products, steel, and engineering and construction (E&C) companies during FY26," Fitch said in its India Corporates Credit Trends report released on Friday. Fitch Ratings expects credit metrics to improve for its rated Indian corporates in the financial year ending March 2026, as wider EBITDA margins offset their high capex intensity. On the impact of US tariffs, Fitch said it expects a "limited direct impact" on its rated Indian corporates from higher US tariffs due to generally low to moderate US export exposure. However, second-order

The revision in outlook comes as a relief for Boeing, which has resolved its labor dispute and is undergoing a broader transformation under current CEO Kelly Ortberg

The rating agency expects two further cuts in the policy rate this calendar year, revised downwards to 5.75 per cent by December 2025

Real estate company expects to use proceeds for repaying debt, general working capital and other business activities

Both showed improved risk profile with better financial performance

The US indictment may lead to negative rating action in the near to medium term for Adani Energy

IT services firm Wipro's revenue is likely to increase by about 4.5 per cent in FY26, mainly driven by favourable sectoral trends and recovery in discretionary customer spending, according to global rating agency Fitch. The agency retained Wipro's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'A-' with a stable outlook. "Fitch forecasts Wipro's revenue to increase by around 4.5 per cent in FY26 compared with a slight decline in FY25. We believe that the growth will be supported by a recovery in discretionary customer IT spending, particularly in the US, where customers will benefit from declining interest rates. "We expect customers in Europe to remain under pressure in a weaker economic environment and to focus on cost optimisation and efficiency improvement. There are early signs of revenue recovery in 3Q FY25 with IT services revenue rising by 0.6 per cent year-on-year," the agency said in a statement. Wipro will be able to maintain its solid market ...

Pakistan needs to repay over $22 billion in external debt in the fiscal year 2025, including nearly $13 billion in bilateral deposits, Fitch said

With the decision by the Hong Kong based Fitch Ratings to upgrade Sri Lanka's credit rating, the island nation has officially ended its debt default, the Finance Ministry said here on Saturday. Fitch upgraded Sri Lanka's long term credit default rating to CCC+ from CCC- on Friday as it said that the risk of another default on local currency debt has been reduced by the completion of the international sovereign bond restructuring and an improved outlook for macroeconomic indicators. Mahinda Siriwardana, a top bureaucrat in the Finance Ministry, said in a statement: December 20 marked a major milestone in our economic recovery process as Sri Lanka officially exited sovereign default. Sri Lanka had plunged into an economic crisis when the island nation declared sovereign default in mid-April of 2022, its first since gaining independence from Britain in 1948. Almost civil-war-like conditions and months of public protests led to the fleeing of the then president Gotabaya Rajapaksa. Rani

Nissan said last month its half-year net earnings were down more than 90 per cent from the same period last year and cut its annual operating profit forecast by about 70 per cent

US prosecutors have charged billionaire Gautam Adani, the group's founder, his nephew Sagar Adani and six others for their alleged roles in a $265-million scheme

Reinsurers, which insure the insurers, have raised their rates in recent years in response to losses from the Covid-19 pandemic, wars and natural catastrophes