Fitch Rating

How gaps in governance standards weigh on India's sovereign ratings

Fitch Ratings keeps country at lowest investment grade, citing poor scores in political stability and corruption control

Fitch Ratings affirms India's credit rating at 'BBB-' on robust growth

Fitch affirms India's sovereign rating at 'BBB-' with a stable outlook, citing strong growth and external resilience, even as high debt and tariff risks remain

Fitch raises Boeing's outlook to stable as finances, production improve

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

PSBs' loan growth to outpace private banks in FY26: Fitch Ratings

PSBs' loans grew by 12.4 per cent while private peers lagged with 7.5 per cent in FY25

Fitch Ratings raises India's average growth potential to 6.4% till 2028

Fitch Ratings on Thursday raised India's average annual growth potential till 2028 to 6.4 per cent, from 6.2 per cent estimated in November 2023. "The Indian economy bounced back more strongly than we expected at the time of the 2023 report, suggesting a less adverse "scarring" impact from the pandemic shock," Fitch said while updating the five-year-ahead potential GDP projections. In its updated forecast, Fitch upped India's average growth estimate for 2023-2028 to 6.4 per cent, from 6.2 per cent. It said Fitch Ratings has slightly lowered its medium-term potential GDP projections over the next five years for the 10 emerging market economies covered in the Global Economic Outlook (GEO). "Our new projection sees growth at 3.9 per cent on a GDP weighted basis, down from 4 per cent in our previous assessment published in November 2023," it said, adding that "Our unweighted average EM10 potential growth projection is 3.1 per cent, just higher than the 2023 report.

Fitch upgrades Shriram Finance's rating on improved business profile

Fitch Ratings on Tuesday upgraded Shriram Finance Ltd's rating reflecting sustained improvement in standalone profile in recent years, particularly in funding diversity, risk management, portfolio quality and profitability. Fitch Ratings has upgraded India-based Shriram Finance Ltd's (SFL) Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) to 'BB+', from 'BB', with a 'stable' outlook. It said SFL has demonstrated steady performance since merging with its sister company, Shriram City Union Finance Ltd (SCUF), in 2022. The ratings also reflect SFL's time-tested and established franchise in used commercial-vehicle financing, seasoned management team, established risk controls and adequate balance-sheet buffers. India's robust medium-term growth potential and large, diversified economy should continue to support non-bank financial institutions' (NBFIs) business prospects and profitability in the medium-term. "The upgrade reflects sustained improvement in SFL's standalon

Banks NPAs may dip to 2.4% by March despite stress in retail loans: Fitch

Robust growth, recoveries & write-offs to offset rise in slippages

Asset quality pressures intensifying in India, emerging markets: Fitch

Lower interest rates, robust economic conditions to bolster near-term asset quality

Fitch affirms 'BBB+' rating on Larsen & Toubro with stable outlook

Fitch Ratings said it has affirmed 'BBB+' rating with stable outlook on Larsen & Toubro and stressed that the ratings indicate strong financial structure and sound financial flexibility of the company. "Fitch Rating has assigned India's Larsen & Toubro Limited (L&T) first-time Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of 'BBB+'. The Outlook is Stable," the rating agency said in a statement on Tuesday. The ratings reflect the company's strong market position as a large global engineering and construction company with above-average profitability and solid revenue visibility. "We believe L&T's robust record of steady margins, which is backed by adequate risk management and diversification into stable and high-margin IT and technical services businesses, buffers its ratings against the inherent risks in the E&C (engineering and construction) sector," it said. The credit rating agency further said that the stable outlook reflects its view that .

Sustained fiscal deficit reduction positive for India's ratings: Fitch

Fitch Ratings said in a press statement that this dividend would help India in meeting the fiscal deficit target of 5.1 per cent of GDP for FY25

Banks' underwriting standards at risk amid consumer loan growth: Fitch

Fitch Ratings on Monday said Indian banks' risk appetite through higher loan growth will remain a key consideration for their creditworthiness despite improved financial performance. It said asset quality pressures from the previous credit cycle are subsiding, creating a favourable business environment. This has bolstered banks' potential and appetite for growth. Bank loans grew by 16 per cent in the financial year ended March 2024, similar to FY23, exceeding the 8 per cent CAGR (compound annual growth rate) over FY15-FY22. Retail loans constitute around 10 per cent of system loans, and grew at a 20 per cent CAGR since FY21, fuelled by a shift towards unsecured credit to expand margins, the US-based rating firm said. Large private banks gained significant market share in the last credit cycle and continue to grow rapidly; state banks also returned to brisk growth but lagged large private banks, Fitch said in a report titled 'Risk profile weighs on Indian banks' viability ratings ..

Indian banks' operating environment strengthens as Covid risks ebb: Fitch

With banks shoring up their capital buffers and cleaning up their balance sheets following the pandemic, their gross non-performing asset ratio has fallen to a 10-year low of 3.9% as of March 2023

Fitch's US downgrade is advantage gold, retail investors can book profits too

The downgrade of the U.S. credit rating to AA+ can have significant implications for the financial markets, both domestically and globally

Here's why Sensex tanked over 900 points in Wednesday's intra-day trade

All sectors, meanwhile, nosedived in the sea of red, with Nifty Metal, Nifty PSU Bank, and Nifty Oil & Gas as some of the worst performers

Fitch says, two Adani entities facing 'heightened contagion risks'

(Reuters) -Ratings agency Fitch said two Adani Group subsidiaries were exposed to "heightened contagion risks", possibly affecting their financial flexibility

No immediate impact from Hindenburg on Adani firms' credit profiles: Fitch

Rating agency will be monitoring group firms closely for major changes in their access to finance, the cost of financing, regulatory/legal developments and ESG-related matters

TCS revenue growth likely to slow down in FY24, says Fitch Ratings

After strong 3QFY23 results, TCS NSE 0.19 % (TCS NSE 0.19 %) revenue growth is likely to slow in financial year ending March 2024 (FY24) amid the global economic slowdown, according to Fitch Ratings

Indian commercial vehicle sector to log volume growth: Fitch Ratings

The CV sector will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report

Risk to India's sovereign rating from external pressures limited: Fitch

Country relatively insulated from volatility due to limited reliance on external financing, says rating agency

Fitch affirms Bank of Baroda, subsidiary at 'BBB-' with stable outlook

Action factors in a high likelihood of sovereign support to the public sector lender; rating agency says profitability to rise further; high loan growth to resume