Page 14 - Fitch Ratings
Fitch expects marketing, refining volume of oil firms to fall 15% in FY21
With lockdowns pummelling fuel demand in India, Fitch Ratings expects the marketing and refining volume of oil firms to fall by over 15 per cent this fiscal year before a gradual recovery in FY22
 "Fitch expects marketing, refining volume of oil firms to fall 15% in FY21")
Indian banks face tough operating environment in near term: Fitch
Fitch Ratings on Tuesday said Indian banks face a tough operating environment in the near term as stressed loans and write-offs increase due to the economic fallout from the coronavirus pandemic
 "Indian banks face tough operating environment in near term: Fitch")
IT services growth to return in 2021, Covid to fuel digital spends: Fitch
Most companies have reported robust deal wins that should support growth in 2021-2022, despite the revenue decline in the second quarter of 2020, said the report
 "IT services growth to return in 2021, Covid to fuel digital spends: Fitch")
Swift economic recovery key to limit loan losses for Indian banks: Fitch
Lenders face a tough operating environment in the near term, with a spike in stressed loans and write-offs due to the economic fallout of the coronavirus pandemic
 "Swift economic recovery key to limit loan losses for Indian banks: Fitch")
Fitch takes ratings action on four NBFCs amid Covid-19 challenges
The companies' long-term IDRs were placed on RWN in March this year, as Fitch expected the pandemic to present further macroeconomic
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 projects wider GDP contraction for FY21 at 9%, from 5% earlier")
Fitch affirms Bharat Petroleum at BBB-minus with negative outlook
Fitch Ratings has affirmed BPCL's long-term foreign-currency issuer default rating at BBB-minus with a negative outlook
 "Fitch affirms Bharat Petroleum at BBB-minus with negative outlook")
Rating firms rework their India FY21 GDP forecasts with sharper contraction
Impact on wages to severely dent consumption and decelerate recovery, says India Ratings
 "Rating firms rework their India FY21 GDP forecasts with sharper contraction")
Top headlines: Rating firms cut GDP forecast, hiring outlook at 15-year low
Global rating and research houses, such as Fitch and Goldman Sachs, have cut their estimates for growth in India's GDP for the current fiscal 2020-21.
 "Top headlines: Rating firms cut GDP forecast, hiring outlook at 15-year low")
Global economy to contract 4.4%, China to grow at 2.7% in 2020: Fitch
Fitch Ratings projected global GDP to contract 4.4 per cent in the current year but revised upwards China's growth estimate to 2.7 per cent for 2020
Goldman Sachs to Fitch: Global rating agencies cut India's GDP forecast
Downward revision follows a sharp contraction in the economy in the April-June period, when GDP came in at a negative 23.9 per cent YoY, the worst show in nearly four decades
 "Goldman Sachs to Fitch: Global rating agencies cut India's GDP forecast")
SC decision to allow due payment over 10 yrs not enough to aid VIL: Fitch
SC decision to allow telcos to pay dues over 10 years will not be enough to help Vodafone Idea, while Jio and Airtel are expected to strengthen their market shares, Fitch Ratings said
 "SC decision to allow due payment over 10 yrs not enough to aid VIL: Fitch")
Fitch revises India GDP forecast for FY21 to -10.5% from -5% earlier
The downward revision in India's forecast for FY21 comes on the heels of a sharp contraction in Indian economy in the April - June 2020 period, when the GDP came in at a negative to 23.9 per cent year
Fitch places Future Retail on rating watch positive on sale to Reliance
Fitch Ratings has placed FRL's issuer default rating of C and the rating on its 500 million dollars 5.6% senior secured notes due in 2025 of C with a recovery rating of RR4 on rating watch positive
Indian private banks to gain market share from PSBs: Fitch Ratings
Indian private banks have had a decade of strong growth, reflected in much higher loan CAGR of 19.6%
Weak oil refining margins to put pressure on fuel retailers: Fitch Ratings
Fitch Ratings on Monday said state-owned oil refiners IOC, BPCL and HPCL may see longer than previously expected time to recover refining margins, increasing downside risks to their credit profiles.
Indian automakers' demand outlook cloudy despite respite in July: Fitch
The pandemic has also reduced the availability of financing as lenders exercise caution, particularly to weaker borrowers that form a significant customer base for CVs
 "Indian automakers' demand outlook cloudy despite respite in July: Fitch")
India's steel demand expected to contract in FY21: Fitch Ratings
India's steel demand is expected to contract in FY21, Fitch Ratings said on Friday
 "India's steel demand expected to contract in FY21: Fitch Ratings")
Bahrain gets first rating downgrade in 2 years, says need more Gulf aid
Fitch on Friday cut Bahrain's sovereign rating one step to B+, leaving it four levels below investment grade
 "Bahrain gets first rating downgrade in 2 years, says need more Gulf aid")
Fitch cuts US credit outlook to 'negative' due to budget loss amid Covid-19
"There is a growing risk that US policymakers will not consolidate public finances sufficiently to stabilize public debt after the pandemic has passed," said the statement