Page 4 - Fitch

Fitch withdraws ratings on debt-laden China Evergrande, subsidiaries

Fitch said that it would no longer have sufficient information to maintain the ratings on Evergrande, the world's most indebted developer with more than $300 bn in debt, and two of its subsidiaries

Lankan insurance firm set to lose LKR 1 billion due to May 9 violence

Sri Lanka's state-owned insurance firm may incur losses in excess of LKR 1 billion due to the violent clashes between anti- and pro-government protesters on May 9, Fitch said

Fitch affirms Wipro, HCL Tech's long term 'A-' rating, outlook stable

The rating agency, in a statement, said it has affirmed Wipro's senior unsecured rating on the $750-mn senior notes due 2026

Moderate asset quality pressure may re-emerge for banks: Fitch

Moderate pressures on asset quality of Indian banks may re-emerge as forbearance starts to unwind from 2023, Fitch Ratings said on Friday

Jubilant Pharma: Fitch revises outlook to 'negative'; affirms 'BB' rating

Fitch estimates the pharma company's EBITDA to drop significantly in FY23 due to lower volume and narrowing of the margin to 11%

Beyond capex, Budget was short on structural reform announcements: Fitch

'From a rating perspective, we see India as having limited fiscal space as it has the highest general government debt ratio of any 'BBB'-rated emerging market sovereign,' says the rating agency

Fitch downgrades Sri Lanka's sovereign rating to 'CC' from 'CCC'

Fitch has downgraded Sri Lanka's sovereign rating to 'CC' from 'CCC', saying there is an increased probability of a default in coming months.

Fitch lowers outlook on ReNew Power rating to Stable on slower deleveraging

The firm's capex was expected to be below company's estimates given the continuing Covid-related challenges, including delays in signing new PPAs, the rating agency said

Fitch cuts India GDP forecast for FY22 to 8.4% in Nov from 8.7% in Oct

However, Fitch raised GDP growth projection for the next financial year to 10.3 per cent

Fitch affirms ICICI Bank's issuer default rating at 'BB+'; outlook negative

The rating agency assigned ICICI Bank a Government Support Rating (GSR) of 'bb+' as well

FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch

Revenue Secretary Tarun Bajaj has said the government's tax collection kitty will surpass budget estimates this financial year on the back of good direct and indirect tax mop-up.

Rating assessment of India focused on medium-term debt trajectory: Fitch

"We view the persistent level of core inflation and energy price developments, along with global price pressures, as carrying upside risk for our inflation outlook," said Zook,.

Fitch affirms 'BBB-' rating for India, forecasts FY22 GDP growth at 8.7%

Fitch says India's rapid economic recovery from Covid pandemic, easing financing sector pressures are narrowing risks to medium-term growth outlook

Inflation-growth dynamics make policy making tough in India: Fitch

Year-to-date inflation averaged 5.2 per cent which is slightly below Fitch Solution's full-year forecast of 5.5 per cent for 2021

New climate target poses upside risks to renewable growth outlook: Fitch

At the 2021 Climate Change Conference, also known as COP26, Modi outlined a net zero emissions target by 2070 for India

Forbearance gives Indian banks time to build capital buffers: Fitch

No need for equity capital till FY25 to meet 8% CET1 level

Fitch upgrades outlook on Shriram Transport from 'negative' to 'stable'

The rating agency affirmed "BB-" rating for Manappuram Finance's Issuer Default Ratings with "Stable" outlook

India's cotton production to fall by 1% due to lackluster rainfall: Fitch

Fitch Solutions said on Tuesday it expects cotton production in India to fall by one per cent year-on-year to 28.3 million 480lb bales in 2021-22

India continues to 'lag way behind' in Covid-19 vaccination: Fitch

Fitch Ratings on Tuesday said India continues to "lag way behind" in COVID vaccination, and the negative outlook on sovereign rating signifies the rising debt-to-GDP ratio. In April 2021, Fitch affirmed India's sovereign rating at 'BBB-' with a negative outlook. The outlook was changed to 'negative' from 'stable' in June last year on grounds that the pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public-debt burden. Addressing the Global Sovereign Conference 2021, Asia-Pacific, Fitch Ratings Senior Director, Head of Asia-Pacific Sovereign Ratings, Stephen Schwartz said vaccination is the key to economic recovery across the world. "The (APAC) region which was so successful in containing the virus early on, got behind the curve when it came to rollout of vaccines. Singapore really stands out now with 80 per cent of its population being vaccinated. But many countries in the region like Vietnam, Thailand and India ...

LIVE: Anti-Taliban forces claim to have 3 districts in Afghanistan's north

Fitch Solutions also said that its currency may slide further than it already has following Taliban's takeover