Page 10 - S&p Global Ratings

India pitches sharp economic recovery to make case for ratings upgrade

Government officials have admitted that global inflationary pressures due to Russia's invasion of Ukraine have hit household savings and corporate margins, and will impact growth

Services activity at 11-year high in May on post-Covid business growth

The S&P Global India PMI rose to 58.9 in May from 57.9 in April, the highest since April 2011

LIVE: Yogi govt issues new rules to ensure safety of working women

No female worker shall be bound to work without her written consent before 6 am and after 7 pm

S&P Global Ratings cuts Ukraine credit rating amid more 'protracted' war

S&P Global Ratings cut Ukraine's rating by one notch amid a more protracted conflict than originally forecast when Russia invaded the nation in February

Tesla CEO Elon Musk sees net worth shrink by $12 bn amid ESG index fiasco

Tech billionaire Elon Musk recently saw over $12 billion wiped off his net worth following Tesla stock's recent drop and the S&P Global Ratings' decision to boot Tesla from its ESG index.

S&P cuts FY23 India growth forecast to 7.3% on inflation, Ukraine war

S&P Global Ratings on Wednesday cut India's growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict. In its Global Macro Update to Growth Forecasts, S&P said inflation remaining higher for long is a worry, which requires central banks to raise rates more than what is currently priced in, risking a harder landing, including a larger hit to output and employment. S&P had in December last year pegged India's GDP growth in the 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent. The growth projection has been cut to 7.3 per cent for the current fiscal. For the next fiscal the growth has been pegged at 6.5 per cent. "The risks to our forecasts have picked up since our last forecast round and remain firmly on the downside. The Russia-Ukraine conflict is more likely to drag on and escalate than end earlier and deescalate, in our view, pushing the risks to the downside," ..

PMI manufacturing rises to 54.7 in April on robust demand, factory orders

International demand also jumped robustly to a 9-month high after contracting in March and domestic demand was above average.

Indian renewable sector highly leveraged due to global opportunities: S&P

Global credit rating agency S&P Global Ratings on Monday said the Indian renewable energy sector will be highly leveraged owing to the growth opportunities.

Current account deficit could cross 5% in 2022 if crude hits $150/barrel

India's CAD expanded to 2.7 per cent of GDP in the December quarter from 1.3 per cent in September quarter on account of higher import bill

Russia plans legal action as S&P says it's defaulted on its foreign debt

Russia attempted to pay in rubles for two dollar-denominated bonds that matured on April 4, S&P said in a note on Friday

Global bond sales to cross $10 trillion in 2022: S&P Global Ratings

LONDON (Reuters) -Global sovereign borrowing will reach $10.4 trillion in 2022, nearly a third above the average before the coronavirus pandemic, S&P Global Ratings said in a report.

Funds raised by Indian fintechs sees 296% jump in 2021 at $5.94 bn

Payments, according to the report, was the second-most popular category for US investors, as 167 companies received funding in 2021 in the APAC region.

Tata Steel rating raised to 'BBB-' on reassessment of group support: S&P

Ratings agency places stable outlook on Tata Steel on continued deleveraging efforts

S&P Global revises Bharti Airtel outlook to 'stable' from 'negative'

S&P said Airtel's "improving operating fundamentals should improve its margins and Ebitda"

Slow vaccination weighs on recovery of A-Pac sovereign credit metrics: S&P

S & P Global Ratings expects most Asia Pacific sovereign credit ratings to remain unchanged in the next one to two years despite continued pressures posed by Covid-19."We have stable outlooks on more than two-thirds of 21 long-term sovereign ratings in the region currently," it said in a report published on Wednesday.Covid-19 vaccines rolled out in several countries from late 2020 have helped to reduce pandemic-related uncertainties on the trends of economic and fiscal indicators.The better clarity has allowed a few positive rating actions on governments that showed strong credit metrics for their respective rating levels at the beginning of the year."We expect much of Asia Pacific to return to relatively strong economic performance once the region has Covid-19 under control," said the report."Many parts of the region have been significantly affected by the pandemic and have seen sharp economic contractions in 2020. However, we believe the episode has not seriously damaged their ..

S&P Global cuts India's growth forecast to 9.5% from 11%, trims EM overall

LONDON (Reuters) - S&P Global cut its growth forecasts for some of Asia's top economies including India, the Philippines and Malaysia on Monday, offsetting upgrades to China and South Africa and much of Latin America.

S&P cuts India's FY22 growth forecast to 9.5% from 11% earlier

S&P Global Ratings on Thursday cut India's growth forecast for the current fiscal to 9.5 per cent, from 11 per cent earlier, and warned of risk to the outlook from further waves of COVID pandemic. The agency lowered the growth outlook saying that a severe second COVID-19 outbreak in April and May led to lockdowns imposed by states and sharp contraction in economic activity. We forecast growth of 9.5 per cent this fiscal year from our March forecast of 11 per cent, S&P said. Stating that permanent damage to private and public sector balance sheets will constrain growth over the next couple of years, it projected India's growth at 7.8 per cent in the next fiscal ending March 31, 2023. Further pandemic waves are a risk to the outlook given that only about 15 per cent of the population has received at least one vaccine dose so far, although vaccine supplies are expected to ramp up, S&P said. Indian economy contracted by 7.3 per cent in fiscal 2020-21 as the country battled the

High-flying battery makers have much to win and lose: S&P Global Ratings

S & P Global Ratings said on Monday the world's biggest battery producers globally face substantial upside and downside risks to ratings.While their growth opportunities are significant, they will need to navigate fast-moving technology, heavy expenditure, geopolitical forces shaping trade lines and environmental strains, it said.The demand for batteries that power light electric vehicles (including battery electric vehicles and plug-in hybrids) may grow as much as eight-fold by 2025 from 139 gigawatt hours in 2020.Many countries are encouraging battery production to foster their own domestic electric vehicle industry."The battery sector has entered an extremely dynamic phase. Firms face substantial growth opportunities as electric vehicles rapidly replace legacy autos," said S & P Global Ratings credit analyst Stephen Chan."This will require heavy upfront investment in a battery standard that may be quickly eclipsed by superior technology. There are many moving pieces that ...

Credit losses set to decline for most Asia Pacific banks, says S&P

Credit losses are set to fall across most Asia Pacific banking systems over the next two years, S & P Global Ratings said on Tuesday.This is partly because targeted assistance to stretched borrowers will likely continue in many places until pandemic-related challenges substantially abate."Asia Pacific banks should safely avoid a 'cliff effect' even as extensive relief measures are progressively removed," said S & P Global Ratings credit analyst Sharad Jain.Moratoriums on loan repayments -- together with fiscal, monetary and policy support -- have helped cushion the blow to borrowers in Asia Pacific from the Covid-19 outbreak and containment measures.Repayment moratoriums have fallen to less than 5 per cent of system loans for a number of Asia Pacific countries compared with between 6 and 80 per cent at the height of pandemic.S & P forecast credit losses for the 12 larger banking systems in Asia-Pacific: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New ...

S&P Global Ratings affirms BB/B ratings on IDBI Bank with negative outlook

S & P Global Ratings has affirmed BB long-term and B short-term foreign currency issuer credit ratings on IDBI Bank.It also affirmed BB programme rating on the senior unsecured notes under its medium-term notes (MTN) programme and then withdrew the ratings at the bank's request.S & P said the outlook was negative at the time of withdrawal. "We affirmed the ratings because we expect IDBI Bank's improving financial performance to offset the risk of bank's weakening link with the government."The Union Cabinet has approved strategic disinvestment along with the transfer of management control in IDBI Bank. "We considered this as a key transition risk for the rating over the next 12 to 18 months."The high uncertainty associated with an eventual timeline of divestment raises further transition risk. S & P said the strategic sale in IDBI Bank will likely be challenging in the current year owing to the bank's low equity valuation and wary investor sentiment under Covid-19.S & P