Page 16 - Fitch Ratings

Fitch revises India outlook to negative from stable; affirms IDR at 'BBB-'

Fitch expects economic activity to contract by 5% in the fiscal year ending March 2021 (FY21) from the strict lockdown measures imposed since 25 March 2020, before rebounding by 9.5% in FY22

MARKET WRAP: Sensex slumps 709 pts on global sell-off; Voda Idea slips 13%

All that happened in the markets today

Market Ahead, June 11: All you need to know before the opening bell

Telecom stocks are expected to remain active today as the Supreme Court will hear the AGR matter later in the day

Top headlines: Fitch predicts growth at 9.5% in FY22, AGR hearing, and more

From S&P retaining India's sovereign rating and outlook, SC relief to Amrapali homebuyers to HUL's crorepati club shrinking, here are top news of the day

Indian economy to bounce back with growth of 9.5% in next fiscal: Fitch

Listing positives for India, Fitch Ratings said there was greater confidence in a sustained reduction in general government debt over the medium term to a level closer to the 'BBB' peer median

Intuition, not prediction

The Covid crisis makes "data driven" projections inaccurate, as the past provides zero guidance for the future.

Moody's downgrade: Expect bouts of correction; sell-off in markets unlikely

Stock markets generally discount an outcome a few months in advance. They might have seen the bottom in March, unless a more ferocious second wave results in a fresh lockdown, writes Ambareesh Baliga

Moody's cuts India's rating to 'Baa3', maintains negative outlook

The change brings Moody's rating into line with Fitch and Standard and Poor's, both of which rate India BBB-, although they assign stable rather than negative outlooks

Indian banks' asset quality pressure may last for at least 2 years: Fitch

Fitch estimates that the impact on impaired loan ratios could be anywhere between 200 to 600 basis points depending on the severity of stress and banks' individual risk exposures.

Asset quality pressure may last 2 yrs, spike banks' bad loans by 6%: Fitch

Rating agency says moratorium extension, easing of working capital loan limits

Fitch forecasts 5% contraction of Indian economy over slump, lockdown

Fitch said it has made further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO) for May, but the slump in global economic activity is close to reaching its trough

Fitch downgrades JSW Steel, Tata Steel to BB- from BB; outlook negative

The Indian Steel Association has forecast an 8 per cent drop in domestic demand in FY21

Lending, spending... and bending

Bank lending needs to be supported by government spending - the fiscal stimulus

Fitch affirms Axis Bank's IDR at BB-plus with stable outlook, downgrades VR

Fitch has cut its forecast for India's GDP growth in the financial year ending March 2021 (FY21) to 0.8 per cent from a pre-pandemic forecast of 5.1 per cent

Fitch downgrades viability rating for four banks on Covid-19 impact

Affirms Issuer Default Ratings for seven banks including these four and Bank of India, Canara and PNB

Fitch fears more 'gating' in debt schemes if RBI plan doesn't take-off

Banks may look at conserving capital, with asset quality concerns rising amid Coronavirus-induced lockdown

Rating downgrade by Moody's, negative outlook by Fitch likely, warns Nomura

India's Achilles heel on ratings, according to Nomura, is its parlous state of fiscal affairs

Best of BS Opinion: Fiscal outlook under pressure, Covid-19 crisis and more

Here's a selection of Business Standard opinion pieces of the day

India's rating could come under pressure if fiscal outlook worsens: Fitch

Fitch had in December 2019 reaffirmed India's 'BBB-' rating with a stable outlook

Fitch Ratings sees India growth dipping to 0.8% in FY21 from estimated 4.9%

The rating agency predicted two consecutive quarters of contraction or negative year-on-year growth in current fiscal -- (-)0.2 per cent in April-June and (-)0.1 per cent in July-September