Page 4 - Moody's Ratings

Moody's estimates GDP to grow at 7.4% in FY2019-20, outlook on banks stable

Moody's also noted that capitalisation at public sector banks will remain weak but government support will provide relief

Moody's assigns Baa3 ratings with stable outlook to ArcelorMittal

Moody's Investors Service today said it has assigned Baa3 long-term issuer rating with stable outlook to global steel giant ArcelorMittal. The upgrade reflects Moody's expectation that the company will maintain strong operating performance and will continue to reduce its leverage, it added. "Moody's Investors Service (Moody's) has today assigned a Baa3 long-term issuer rating to ArcelorMittal, the world's largest steel producing company. The outlook on the rating is stable," the agency said in a statement. Today's upgrade reflects the agency's expectation that ArcelorMittal will continue to reduce leverage on the back of improved earnings and operating cash flow, and that it will preserve its strengthened financial profile by prudently managing any future investments and M&A, said Gianmarco Migliavacca, Vice President Senior Credit Officer and the lead analyst for ArcelorMittal. For 2018, the rating agency expects that ArcelorMittal's adjusted gross leverage will improve. Such ...

Moody's has stable outlook for non-financial corporates, except telcos

Global rating agency Moody's today said it has a stable outlook for non-financial corporate in the country, except for telcos, on which it has a negative outlook for 2018. The agency also has stable outlooks for car-makers, and companies in the construction, cement, and textiles sectors, but a negative outlook on the real estate sector. "Our stable outlook is underpinned by the expectation that GDP growth of around 7.6 per cent will result in higher sales volumes, which along with new production capacity and stabilising commodity prices, will support pre-tax profit growth of 5-6 per cent over the next 12-18 months," Laura Acres, a managing director at Moody's corporate finance group, said in a report. She said further simplification of GST and other structural reforms or improved commodity prices can result in higher operational profit growth, and provide means for deleveraging for some corporates. The agency has a stable outlook for exploration & production ...

India's prosperity level lowest among peers: S&P

Last week, Moody's Investors Service had upgraded India's rating by a notch to two grades above junk, citing the many reforms undertaken by the Narendra Modi government

Moody's ups outlook on India Inc

Moody's said a further simplification of GST and other structural reforms could further improve companies' credit profiles

Indian companies to see better credit profiles in 2018, says Moody's

Agency sees disruptions from GST implementation diminishing, economic activity recovering and sales voles increasing on better GDP numbers

Moody's upgrades India's sovereign bond rating for first time in 14 years

Move to help attract more foreign fund flows; India Inc could tap foreign capital at lower rates

After Moody's upgrade, India Inc can raise funds overseas at lower costs

CFOs of large corporates said Moody's upgrade will help tap overseas markets where average cost of funds is Libor plus up to 200-400 basis points

Moody's India rating upgrade: Bond market rallies, then fades

Gilts failed to retain the gains, with traders booking profit

Moody's upgrade may widen trade deficit, impact exports already hit by GST

Since economists predict that the rupee will strengthen as a result of the upgrade, the export segment might find it difficult to grow as a result

Moody's India rating upgrade: Indian rupee may still depreciate

To maintain the country's competitiveness, the RBI might still want to see the rupee a little weak

Moody's upgrades ONGC, IOC, BPCL, HPCL, PLL issuer rating to Baa2 from Baa3

At the same time, the foreign currency issuer rating of ONGC has been upgraded to Baa1 from Baa2

SBI, HDFC Bank, EXIM Bank and IRFC also get Moody's rating upgrades

Moody's has also changed the ratings outlook to 'stable' from 'positive' for the four banks and some of their branches abroad