Page 7 - S&p Global Ratings

India's average growth rate likely to be 6.7% till FY27, says S&P

Indian economy is expected to clock an average growth rate of 6.7 per cent till 2026-27 fiscal driven by domestic consumption, S&P Global Ratings Senior Economist (Asia Pacific) Vishrut Rana said on Wednesday. He said the economic growth in the current fiscal is expected to come in around 6 per cent, lower than 7.2 per cent clocked in 2022-23. "We are seeing some headwinds from the trade side which is affecting activity and that is one of the factors that is affecting growth this year," Rana said at a webinar. The factors that are driving the slowdown from 7.2 per cent growth last fiscal are weaker external environment, moderation in pent-up demand, and softening private consumption activity, Rana said, adding, with tighter monetary policy there is expected to be some impact on consumer demand. "We expect 6.7 per cent growth on average over the course of our forecast horizon which extends to FY26-27. This fiscal (2023-24) we expect growth to be 6 per cent," Rana said, adding that .

India's rating upgrade hinges on sustainable fiscal consolidation: S&P

MUMBAI (Reuters) - S&P Global Ratings could consider an upgrade in India's sovereign rating if the country's fiscal metrics improve on a sustained basis and inflation is persistently lower, aided by monetary policy actions, an analyst at the agency said on Wednesday.

Stellar show by banks, but will it continue?

There are challenges ahead. It won't be easy for the banking sector to put up a better performance every quarter

May services PMI at 61.2 as demand remains resilient amid rising inflation

India's headline figure has been in the expansion zone for 23 months straight since August 2021

Indian IT firms to see revenue decelerate by 5%: S&P Global Ratings

S&P Global Ratings rates the three top IT services players: Infosys, HCLTech, and Wipro

S&P affirms India's sovereign rating at BBB-, with stable outlook

The stable outlook on the long-term rating reflects the global credit rating agency's view that India's strong economy and healthy revenue growth will support its weak fiscal settings

S&P affirms BBB- sovereign credit ratings on India, outlook stable

S&P Global added that solid consumer and investment dynamics will propel India's real gross domestic product (GDP) growth to 6 per cent in fiscal 2024

S&P Global unveils enhanced employee benefits with 'People First 9.0'

S&P Global on Tuesday launched "People First 9.0", the latest iteration of its enhanced global benefits policy across all its markets, including India.

S&P Global Ratings upgrades Tata Power to 'BB+' with stable outlook

S&P Global Ratings has upgraded its rating on Tata Power to 'BB+' with a stable outlook. "S&P Global Ratings has upgraded its rating by one notch on the company to BB+ rating with a stable outlook from BB with a stable outlook," Tata Power said in a regulatory filing. Tata Power, together with its subsidiaries and joint entities, has a generation capacity of 14,076 MW, of which 37 per cent comes from clean energy sources. The company has the distinction of being among the top private players in each sector of the value chain, including solar rooftops and value-added services.

S&P upgrades Tata Motors' long-term issuer, issue credit ratings to 'BB'

A "BB" rating signifies that the entity is less vulnerable in the near-term but faces major ongoing uncertainties due to adverse business, financial and economic conditions

US business activity rises to 11-month high in April: S&P Global survey

S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 53.5 this month

India's services PMI rises for 20th consecutive month but lower than Feb

In February, the service sector PMI was at a 12-year high of 59.4

Manufacturing PMI at 3-month high of 56.4 in March as input costs decline

Companies expect customers, new products, advertising to support sales for 12 months: S&P Global survey

India's economic recovery to help improve credit quality of fincos: S&P

However, the improvement will not be uniform; stronger firms will likely gain market share, weaker ones may resort to originate-and-distribute business models to tide over liquidity stress

Strong macroeconomic trends improve credit quality of finance cos: S&P

The credit quality of Indian finance companies will continue to improve owing to the country's strong macroeconomic trends, said S&P Global Ratings.

S&P Global Ratings cuts Nissan's credit rating by a notch to junk status

It will take longer than expected for Nissan's automobile division to recover from wavering sales and production, S&P said in a statement Tuesday

Credit rated Indian banks can move over to IFRS 9: S&P Global Ratings

Credit rated banks in India are well placed to transition to the expected credit loss approach under the International Financial Reporting Standard 9 (IFRS 9) which is more forward looking, said S&P Global Ratings.

Adani group crisis may not have significant financial spillover risks: S&P

S&P Global Ratings on Tuesday said there will not be any significant direct financial spillover risks because of the problems being faced by the Adani group, though there can be some secondary impact such as banks undertaking extra due diligence while giving loans to corporates. S&P Senior Director (Infrastructure & Utilities Ratings), Abhishek Dangra said as per external estimates, the exposure of the banking sector to Adani group companies is less than 1 per cent and also the credit ratings of the firms are not at 'distress level'. However, he added the risk premium to certain Indian companies and those within the Adani umbrella may rise and if banks have governance concerns, they put in more due diligence which may result in delay in sanctioning credit. "So there are no significant financial spillover risks directly. But there might be some secondary aspects. More so, when the dollar bond market is not necessarily open given high dollar rates, and domestic banking ...

S&P revises Adani Ports, Adani Electricity outlook from stable to negative

Both run risk of deterioration in credit profile, says agency; Fitch doesn't see immediate impact

Unicorns in South and SE Asia need to reduce cash burn: S&P Global

They can't continue spending if operational turnarounds are delayed, says report