Page 7 - S&p Global Ratings

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

Dec manufacturing PMI at 26-month high of 57.8 as production picks up

Growth in new orders and output enable factories to end 2022 on a strong note: Survey

India's December manufacturing PMI expands to 57.8; highest in over 2 yrs

Monday's data cemented the view Asia's third-largest economy is better placed than many other emerging economies to weather the impact of a potential global recession

S&P Global lowers India's growth forecast; pegs it at 6% for 2023

Pegging India's gross domestic product (GDP) growth at seven per cent for 2022 and six per cent for 2023, global credit rating agency S&P Global Ratings said the forecast has been lowered by 0.5 per cent for next two fiscal years.

S&P Global Ratings lowers 2023 growth forecast for emerging markets

(Reuters) - S&P Global Ratings lowered its 2023 growth forecast for emerging economies on Tuesday, citing persistent pressures from the Russia-Ukraine conflict, a lingering COVID-19 pandemic and tight monetary policy conditions.

S&P Global Ratings cuts India's economic growth forecast to 7% for FY23

S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said. The Indian economy grew 8.5 per cent in 2021. In its quarterly economic update for Asia-Pacific, S&P said in some countries the domestic demand recovery from COVID has further to go and this should support growth next year in India. It projected inflation to average 6.8 per cent in current fiscal year and RBI's benchmark interest rate to rise to 6.25 per cent by March 2023. To control price rise, ...