Page 2 - Moody's Rating

Moody's downgrades Azure Power Energy and Azure Power Solar Energy

The one-notch downgrade of APE's and APSEP's debt ratings has been driven by governance issues related to internal controls and compliance

Moody's affirms Yes Bank's ratings, financial performance to remain stable

Moody's Investors Service on Friday said it has affirmed Yes Bank's ratings on the back of expectation that its financial performance will remain stable over the next 12-18 months. The long-term foreign and local currency bank deposit ratings and foreign currency issuer rating has been affirmed at 'Ba3', with a stable outlook. "The rating affirmation and stable outlook is driven by the improvement in India's macro profile to 'moderate+' from 'moderate', along with Moody's expectation that Yes Bank's financial performance will remain stable over the next 12-18 months," Moody's said in a statement. The agency expects Yes Bank's asset quality to be stable as the bulk of its legacy problem assets have been resolved, while India's good economic momentum will support the performance of its newly originated loans. The bank's gross non-performing loan ratio declined to 2.2 per cent at the end of March 2023 from 13.9 per cent a year earlier, following its sale of non-performing loans (NPL)

SVB collapse: Moody's changes outlook on US banking system to 'negative'

Lenders that had "substantial" unrealized securities losses and uninsured deposits may be hurt more as customers look for safer alternatives to park their funds

Close gender gap to increase global economic activity by $7 trn: Moody's

Closing gender gaps in both labour force participation and management in OECD countries has potential to raise global economic activity by 7%, or about $7 trn in today's dollars, said Moody's

Moody's maintains ratings of 8 Adani cos, changes outlook on 4 to negative

Affirmation of APSEZ's issuer ratings considers the company's strong market position as the largest port developer and operator in India by cargo volume and its strong liquidity and financial profile

Moody's Investor Service cuts rating outlook on 4 Adani companies

Moody's Investor Service on Friday revised downwards the rating outlook on four Adani Group companies to negative from stable after a significant and rapid decline in market value following a report by US-based short seller Hindenburg Research. In a statement, Moody's said the rating outlook for Adani Green Energy Ltd, Adani Green Energy Restricted Group, Adani Transmission Step-One Ltd and Adani Electricity Mumbai Ltd has been changed to negative from stable. "These rating actions follow the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a report from a short-seller highlighting governance concerns in the Group," it said.

Adani Group exposures not large to pose risks to banks: Fitch, Moody's

Domestic banks may become main source of funding for conglomerate if its access to int'l markets is curtailed

Asset quality of Indian banks will be stable in 2023, says Moody's

The asset quality of Indian banks and those in Southeast Asian countries will be stable in 2023, said Moody's Investors Service in its latest report on the banking sector in emerging markets

After unfavourable ratings Vedanta Resources terminates Moody's services

Vedanta Resources, the holding company of India's Vedanta Limited, on November 7 terminated the Moody's rating services after the latter downgraded the company's ratings amid debt concerns

Moody's lowers Vedanta Resources rating to 'B3' implying high credit risk

Persistently weak liquidity, high refinancing needs triggers rating action

Moody's downgrades Pakistan with 'C rating' citing increased govt liquidity

Moody's Investors Service has downgraded Pakistan's local and foreign currency and senior unsecured debt ratings to Caa1 from B3, citing increased government liquidity and external vulnerability risks

'Strongly contest' sovereign credit ratings downgrade by Moody's: Pakistan

Moody's cut Pakistan's sovereign credit rating on Thursday by one notch to Caa1 from B3, citing increased government liquidity and external vulnerability risks in the wake of devastating floods

Moody's retains India rating and outlook, days after cutting GDP forecast

Says credit profile reflects strengths like large and diversified economy, but warns that country is highly exposed to climate change events

Moody's slashes G-20 nations' GDP growth to 2.5% from 3.1% in 2022

Global credit rating agency Moody's Investors Service reduced the 2022 real gross domestic product (GDP) growth forecast for G-20 countries to 2.5 per cent from 3.1 per cent made in May

Moody's upgrades ICICI Bank, Axis Bank's baseline credit assessments

Affirms Baa3 deposit ratings of both Indian private sector lenders; outlook on ratings for both banks, where applicable, remains stable

Most rated Indian firms have protections against weaker rupee: Moody's

Have buffers to withstand further 10-15 per cent depreciation

Moody's slashes India's 2022 GDP growth forecast by 30 bps to 8.8 per cent

In its update to Global Macro Outlook 2022-23, Moody's said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year

Moody's affirms Indiabulls HFC's B3 rating; upgrades outlook to 'stable'

The Moody's affirmation is driven by Indiabulls' strong capital, comfortable liquidity, declining profitability and weak asset quality

Why Moody's improved outlook on India might require a discerning look

The ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time

BS Views of the Week: Hypocrisy on Pandora papers and India's net-zero path

From the hypocrisy reflected in the global response to the Pandora papers to the strategies that India can adopt to achieve net-zero emissions, here's what Business Standard columnists and editorials had to say this week