In November 2017, Moody's had upgraded India's sovereign bond rating for the first time in nearly 14 years.
Economists say that though Moody's cut is not really justified at this point, the move is a grim reminder of the state of the economy and the need to accept that all is not well
An inability to raise planned equity capital will negatively impact YES Bank's credit profile and ratings, Moody's added
The agency expects these trends to continue through at least 2021, and does not see telecom companies generating enough cash to pay down debt and reduce elevated leverage
A key risk for vehicle financing companies in India was their heavy reliance on short-term wholesale funding, the agency said
Rating agency says continued decline in on-balance sheet loans is a reflection of its funding challenges
Moody's attributed the deceleration to an investment-led slowdown that has broadened into consumption, driven by financial stress among rural households and weak job creation
Banks in India risk seeing their capital severely depleted if there is a rise in corporate defaults, warned global rating agency Moody's
The reduction in risk weights would encourage banks to increase their exposure to this loan segment at a time when credit risks are already increasing from a slowing economy, Moody's said
The ICRA board said it would commence a search for Takkar's replacement, adding that Vipul Agarwal, remains responsible for the day-to-day operations of the firm until a CEO is appointed.
The cut in growth rates for India was sharper for both the years than the other seven economies
The company also announced that it has entered into a deal with BP to sell 49 per cent stake in its fuel marketing business in India for $1 billion
The agency also said the bank's counterparty risk assessment of Baa3 and domestic and foreign currency counterparty risk rating of Baa3 also remain under review for downgrades
Moody's said it expects growth to be 'weaker' in the next 12-18 months, without quantifying its growth expectation
Trai has recommended auction of about 8,644 MHz of telecom frequencies at an estimated total base price of Rs 4.9 trn
However, the rating agency will continue to incorporate the London debt in Lodha's credit profile unless a complete divestment takes place
Moody's expects India's continued progress on economic and institutional reforms will, over time, enhance India's high growth potential.
The agency cut its forecast for the United States
India aims to achieve 40% of cumulative installed capacity through non-fossil fuel sources by 2030
Under IBC is initiated, control of company shifts from existing mgmt to insolvency professionals