Page 6 - Moodys

Outlook for global credit conditions in 2022 is negative: Moody's

Credit rating agency Moody's Investors Service on Thursday said the outlook for global credit conditions this year has turned more negative amid slower global growth, rising borrowing costs

Moody's upgrades JSW Steel's corporate family rating to Ba1 from Ba2

Moody's Investors Service on Monday said it has upgraded the JSW Steel Ltd's Corporate Family Rating (CFR) to Ba1 from Ba2. At the same time, Moody's has changed the ratings outlook on JSW Steel Ltd and Periama Holdings LLC to 'stable' from 'positive'. "The upgrade reflects JSW's continued strong operating performance and consistently strong credit metrics while maintaining good liquidity," Kaustubh Chaubal, a Moody's senior vice president said. Ba1 rating means obligations are judged to have speculative elements and are subject to substantial credit risk. Moody's has also upgraded to Ba1 from Ba2 JSW's senior unsecured notes rating, the guaranteed backed senior unsecured rating on Periama Holdings LLC and the USD 40-million guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority. In Moody's view, JSW's substantially stronger operating performance will help sustain its deleveraging. The upgrade also reflects the successful commissioning of the company

Indian banks to post larger increase in margins in FY23: Moody's

Credit rating agency Moody's Investors Service on Monday said banks in India, Saudi Arabia and South Africa would post larger increases in margins in FY23

India to ramp up coal output to reduce dependence on imports: Moody's

The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the country's power utilities and build up buffer stock

'Hike in export duties on iron ore, pellets to raise costs for steel mills'

India's imposition of higher export tax on iron ore and various intermediate products such as pellets will raise costs for steel mills, says Moody's

India's steel exports likely to remain strong on regional demand: Moody's

India's steel exports are expected to remain strong in the coming months as higher prices and regional demand would drive the steel companies to divert part of their output to exports

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

Large dividend from India helps Vedanta's refinancing efforts: Moody's

A large dividend from its cash-rich India operating subsidiary has boosted billionaire Anil Agarwal-led Vedanta Resources Ltd's efforts to refinance debt, Moody's Investors Service said on Monday.

'Sanctions on Russia may result in impairment losses for ONGC, others'

Indian companies' value of investments in Russia's oil and gas fields could be impaired as import bans and international sanctions may constraint future cash flow generating capacity: Moody's

Reliance credit quality not impacted by Aramco decision: Moody's

The reevaluation of the decision to sell a 20% stake in Reliance Industries Ltd's oil-to-chemical business to Saudi Aramco will not impact the firm's credit quality, Moody's Investors Service said

Moody's upgrades YES Bank's rating by a notch; changes outlook to positive

The rating action is because of substantial improvement in funding and liquidity position

Indian banks will be able to withstand rising asset risks, says Moody's

The rating agency in a statement said that banks' improved profitability, capital and loss buffers will help them absorb anticipated loan losses and maintain credit strength

Asset quality risks on rise, but Indian banks can absorb loss: Moody's

Coronavirus outbreaks triggering strict containment steps will impede economic recovery and erode borrowers' debt repayment capacity, increasing their asset risks, says agency

Gulf states will take at least 10 years to end oil dependence: Moody's

Reliance on the energy sector will be the 'key credit constraint' for the six countries forming the Gulf Cooperation Council (GCC), the ratings agency said in a report on Monday

Top headlines: Moody's upgrades TaMo outlook; Sputnik V launched in India

Business Standard brings you stories that made the headlines on Friday

Large firms can take another 15% rupee drop due to natural hedge: Moody's

Analysing 22 rated Indian firms, Moody's found nearly half of them had dollar revenues or contracts priced in US dollars that protect the local earning

Indian banks' capital to slip over 2 years without fresh infusion: Moody's

The 2021 outlook for banks in emerging markets is negative, while the outlook for insurers is stable, Moody's said.

MARKET WRAP: Sensex gains 230 pts, ends above 39K level; auto stocks rally

All that happened in the markets today

YES Bank rallies 3% after Moody's upgrades it to B3 on equity infusion

Moody's has also upgraded the bank's long-term foreign and local currency bank deposit ratings to "B3" from "Caa1", and foreign currency senior unsecured MTN programme rating to (P)B3 from (P)Caa1

Moody's upgrades YES Bank to B3 on equity infusion; outlook stable

Successful equity raising showcases lender's regained access to external market funds, which is a result of its improving financial strength, the agency says