Page 14 - Crisil Report

CRISIL upgrades rating on Tata Power NCDs, long-term bank facilities

Tata Power on Thursday said Crisil has upgraded its rating on the company's non-convertible debentures and long-term bank facilities. "Crisil has upgraded its rating of The Tata Power Company Ltd to 'Crisil AA' from 'Crisil AA-' on the non-convertible debentures and long-term bank facilities, Tata Power said in a regulatory filing. The outlook on the rating has been revised to 'stable' from 'positive'. The rating on Tata Power's commercial paper programme has been reaffirmed at Crisil A1+, it said. Tata Power said the rating upgrade has been driven by the de-leveraging initiatives such as sale of non-core assets (South African wind asset and shipping business) and the preferential allotment of equity undertaken by the company. Praveer Sinha, CEO and Managing Director, Tata Power said this rating upgrade recognises the significant efforts of the company to strengthen the fundamentals. The company is on course to achieve the deleveraging and restructuring of business as laid out in

Covid-19 impact: Credit ratio at decadal low of 0.54% in H1, says CRISIL

The credit quality pressure on India Inc is likely to persist in H2FY21, with downgrades outnumbering upgrades, according to the rating agency

Crisil projects wider GDP contraction for FY21 at 9%, from 5% earlier

Attributes it to Covid-19 cases and lack of stimulus from govt

Crisil, India Rating upgrade YES Bank's bonds on improved liquidity

Ind-Ra said the multi-notch upgrade and the resolution of rating watch evolving reflect a significant improvement in Yes Bank's profile and operating metrics post its reconstruction in March

Crisil downgrades Indian Bank's tier I bonds on lower reserves position

Crisil evaluated the adequacy of Indian Bank's eligible reserves to service coupon after adjusting for any medium-term impact of profitability on reserves position in a stress scenario

Healthy, well-spread rainfall raises hope amid Covid-19: CRISIL DRIP

But DRIP scores show some stress for three states and three crops

Debt recast to give relief to Rs 3 trn retail, small corp debt: Crisil

Agency says RBI move on restructuring will help soften Covid-19 impact on banks' asset quality. Without this, gross NPAs could have touched a two-decade high of 11.5% by March 2021

Smart metering will improve discoms' efficiency, high cost a hurdle: Crisil

India's traditional power metering system is inadequate, resulting in MBC (metering, billing and collection) inefficiencies, high commercial losses and revenue leakages, Crisil Ratings said

One-time loan recast to ease liquidity pressure, says CRISIL report

RBI permitted banks to go for one-time restructuring of loans that are facing stress due to the Covid-19 crisis

Over half of Indian firms 'vulnerable' on wage payments, says Crisil

Ashu Suyash, the MD and CEO of the agency, said it has done an analysis of 40,000 companies having a collective wage bill of Rs 12 trillion, which revealed the grim situation.

Liquidity cover for NBFCs not much affected in April and May: Report

In a stress case, where collections are nil and there is no moratorium on liabilities, the proportion of companies with low liquidity could go up to 25%

Strong balance sheets may help maintain car makers credit quality: Crisil

As one of the many fallouts of the coronavirus pandemic on automobile industry, pre-owned vehicles and new small PVs may find increased preference in FY21

Bank credit growth in FY21 to hit multi-decade low of 0-1%: CRISIL

Prior to the disruption caused by covid-19, bank credit was already slower than normal in FY20 due to subdued economic activity and risk averseness of the lenders

Agri sector may not be hit by lockdown; likely to grow 2.5% in FY21: Crisil

The government has announced MSP hike for 14 kharif crops, assuring farmers 50-83 per cent returns on their cost of production

FMCG sector's revenue to de-grow 2-3% in FY21, says CRISIL Ratings

The assessment is based on an analysis of 57 CRISIL-rated FMCG companies that account for approximately 50% of the sector's revenues

CRISIL to CARE, agencies peg India's economic growth at 4-4.7% in FY20

The first Advance Estimates, released in January for the purpose of Budget preparations, pegged the economic growth rate at 5 per cent in 2019-20.

Container vessel idling at 1-yr high as Covid-19 pandemic sinks sailing

The highest sailing cancellation since the Covid-19 outbreak was in February, registering a spike of 105 cancellations across Trans-Pacific, Asia-Europe, and the Mediterranean trades.

Lockdown extension beyond May can lower growth to zero, says CRISIL

The sharp deceleration in growth and increased income uncertainty is certain to pull demand down, it says

Crisil revises ratings outlook on Hindalco to stable from positive

Debt-funded Aleris purchase, likely moderation in operating profits amid Covid-19 could push up debt/EBITDA ratio

Crisil revises rating outlook on Vedanta Ltd to negative from stable

Delay in debt refinancing of Vedanta Resources, higher-than-expected dividends by Vedanta Limited seen as key rating sensitivity factors