Moody's

India's fiscal conditions to constrain credit strength in 2025: Moody's

India's fiscal conditions will continue to constrain its credit strength in 2025, although tension in US-China relations could benefit the Indian economy, Moody's Ratings said on Wednesday. In its report on Asia Pacific Sovereigns, Moody's Ratings said growth and inflation are levelling out, with strong domestic demand bolstered by modest easing in global and regional financial conditions. But proposed trade restrictions by the US would weaken economic output across the region. "India's fiscal conditions will continue to constrain its credit strength in 2025. We expect only gradual fiscal consolidation, and debt to remain significantly higher than the Baa-rated peer median of around 57 per cent," Moody's said. "Despite gains in revenue in recent years, we also expect debt affordability to remain much weaker than rated peers," it added. It said politics and social unrest pose significant economic and fiscal risks. In APAC, geopolitical risks will persist in 2025, flowing from tensi

Moody's Ratings cut France's credit grade, heaps pressure on new govt

In an unscheduled change, Moody's lowered its assessment of the euro area's second-biggest economy to Aa3 from Aa2, three levels below the maximum rating

Moody's upgrades Oyo parent Oravel Stays rating; maintains stable outlook

Moody's Ratings has upgraded the corporate family rating (CFR) of Oravel Stays Limited -- travel tech platform OYO's parent firm -- and the rating on the senior secured term loan issued by its wholly-owned subsidiary OYO Singapore to B2 from B3, and maintained the stable outlook. In a statement on Wednesday, Moody's said it has assigned a B2 rating to the USD 825 million senior secured term loan facility to be availed by Oravel Stays Singapore Pte. (OYO Singapore). The term loan is fully underwritten by Deutsche Bank. Elaborating upon the rating rationale, Moody's said OYO is in the process of securing a new five-year USD 825 million term loan, which together with the USD 174 million of primary equity capital raised between June and August 2024, will be used to repay its existing TLB that matures in June 2026, easing its refinancing pressures. The proceeds will also fund the company's proposed USD 525-million acquisition of US-based hotel chain Motel 6. OYO's interest expense will

Moody's upgrades Oyo's rating to B2, highlights improved profitability

Proposed term loan to reduce refinancing risk

Moody's and Fitch take rating action against Adani group companies

The rating action by Moody's, Fitch, and earlier S&P Global may weaken the group's access to external funding and increase its capital costs

Moody's says Indian economy in 'sweet spot,' predicts 2024 growth of 7.2%

India's real GDP expanded 6.7 per cent year-on-year in the June quarter of 2024, driven by a revival in household consumption, robust investment, and strong manufacturing activity

Slowing Indian economy to drag APAC's growth in 2025: Moody's Analytics

S&P expects RBI to cut rates next month

Moody's maintains stable outlook for Tata Steel, expects improved earnings

Moody's Rating on Wednesday said it has maintained a stable outlook on Tata Steel, expecting the domestic steel major to improve its earnings over the next two financial years. In a report, Moody's said it expects Tata Steel's consolidated EBITDA to be around Rs 290 billion in fiscal ending March 2025 and Rs 380 billion in fiscal 2026, from Rs 241 billion in 2023-24. "The rating affirmation and stable outlook reflect our expectation that the structural improvement in Tata Steel's earnings over the next two years will mitigate the risks associated with new state taxes on mining activities in India and developments at its operations in Europe, amid challenges in the broader steel sector," Hui Ting Sim, a Moody's Ratings Assistant Vice President and Analyst, said. Its forecast assumes that Tata Steel's India operations will generate EBITDA per tonne of Rs 14,700-Rs 15,300 in FY25 and FY26 before state mining taxes, which aligns with the company's 8-year average earnings. Further, the

Moody's, S&P doubt of Boeing hitting year-end production targets in 2024

Boeing slowed output so it could improve production quality, but the decline in output and deliveries has taken a toll on cash flow

Credit rating agencies upbeat on India's fiscal consolidation plan

Moody's Ratings notes that the Budget is credit positive

India to remain fastest growing Asia-Pacific economy, says Moody's

The report also noted that India, Indonesia, and the Philippines were the key growth outperformers in the first half of the year 2024

Coalition may slow decision making: Moody's Analytics on election results

Moody's Analytics said that the reduced political stability and the need for consensus building that is inherent with a coalition government, might erode investor confidence in the near term

Passing major reforms may prove difficult for next govt: Rating agencies

Rating agencies, such as Fitch and Moody's, said broad policy continuity may persist

Moody's tops quarterly profit estimates on back of strong product demand

Moody's Investors Service revenue grew 35%, fueled by improved market conditions and opportunistic activity which drove strong issuance across multiple asset classes, said CFO Noemie Heuland

Moody's revises India's GPD growth forecast to around 8% for FY24

Operating environment for Indian banks to improve in 2024, says Moody's

Moody's affirms 'Ba3' rating to Tata Motors, positive outlook post demerger

Rating agency Moody's on Wednesday said it has affirmed Tata Motors' Ba3 corporate family rating while maintaining a positive outlook on all ratings. Concurrently, Moody's has also affirmed Tata Motors Ltd's (TML) Ba3 senior unsecured instrument ratings, Moody's Investors Service said in a statement. As per Moody's obligations rated 'Ba' are judged to have speculative elements and are subject to substantial credit risk with the modifier 3 indicating a ranking in the lower end of that generic rating category. "Moody's has also maintained a positive outlook on all ratings," it added. The rating affirmation follows TML's announcement earlier this week that its board of directors have agreed in principle the demerger of its operations into two separate listed companies for commercial vehicles (CVs) and passenger vehicles (PVs), respectively, subject to shareholder and regulatory approvals, it said. "While the demerger would result in TML's remaining operations comprising only CVs, the

Higher rated companies have larger proportion of women on board: Moody's

Moody's Investors Service on Tuesday said higher-rated companies have a larger proportion of women on their boards than lower-rated companies. An analysis of 3,138 Moody's-rated companies showed that women account for an average of 29 per cent of the board seats of investment-grade companies (those rated Baa and above), up one percentage point from 2023. It also showed that on an average, women account for 24 per cent of the board seats of speculative-grade companies (those rated Ba and below), which is unchanged from last year. Companies based in advanced economies reflect a correlation between board gender diversity and credit ratings, but those in emerging markets do not, it said. This study considered 24 companies rated Aaa, 146 companies rated Aa, 728 companies rated A, 1,165 companies rated Baa, 582 companies rated Ba, 394 companies rated B, 90 companies rated Caa and nine companies rated Ca. "The presence of women on boards and the potential diversity of opinion they bring

Moody's sees faster CY24 GDP growth; CMIE predicts low FY25 inflation

For the upcoming financial year, the RBI has projected growth of 7 per cent, while the State Bank of India (SBI) revised upwards its projection to 8 per cent

Moody's raises India growth forecast to 6.8% on stronger economic data

Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023, Moody's Investors Service said. With global headwinds fading, the Indian economy should be able to comfortably register 6-7 per cent real GDP growth, it added. "India's economy has performed well and stronger-than-expected data in 2023 has caused us to raise our 2024 growth estimate to 6.8 per cent from 6.1 per cent. India is likely to remain the fastest growing among G-20 economies over our forecast horizon," Moody's said in its Global Macroeconomic ..

Moody's Q4 results: Profit below estimates, revenue up 15% at $1.48 bn

The company's credit ratings segment posted revenue of $684 million, compared with analysts' average estimate of $699 million, according to LSEG