Page 9 - S&p Global Ratings

Large companies' assets at growing risk of climate impact: S-P Global

(Reuters) - Over 90% of the world's largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday.

Top headlines: S&P ups India inflation forecast, green hydrogen, and more

S&P Global Ratings raises India's inflation forecast to 6.8% for FY23. India Inc's next big thing could be green hydrogen

S&P raises India inflation forecast by 50 basis points to 6.8% for FY23

India is facing the external pressures of higher commodity prices, US dollar dominance, and tightening financial conditions from a position of relative strength: S&P

India has ample forex to withstand pressure on creditworthiness: S&P

India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings Director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said. He said the rating agency does not expect the near-term pressures to have a serious impact on India's credit worthiness. "We are expecting a strong level of GDP growth of 7.3 per cent this fiscal," he said, adding the rupee exchange rate movement against the US dollar has been moderate. The rupee has depreciated about 7 per cent against the US currency this year but has performed better than its emerging market peers. Wood said India

Rated Indian firms better placed to withstand rising rates, inflation: S&P

Companies and banks in India could feel the bite of rising rates and inflation, but rated firms are better cushioned to withstand the pressure, S&P Global Ratings said on Tuesday. It said further hike in interest rates is on the cards as the inflation remains above the RBI's upper tolerance limit of 6 per cent despite a 140 basis points increase in policy rate in the current fiscal year. "In a stress scenario we conducted, credit profiles will deteriorate for companies that account for 20 per cent of the outstanding debt analyzed. This is according to a stress test of more than 800 largely unrated companies in India, representing USD 570 billion in debt. Rated issuers are generally better cushioned to withstand rising rates and higher input costs," S&P said in a report. The US-based rating agency said it expects India's continued strong economic growth to positively affect companies' revenues. S&P had in May cut India's growth projections for the current fiscal year to 7.3

S&P affirms ANI Technologies' 'B-' rating on sufficient liquidity

ANI Technologies Pte Ltd is scaling back its growth aspirations in loss-making segments to reduce capital requirements

July PMI services growth slips to 4-month low on rising inflation

The PMI decreased to 55.5 in July 2022 from 59.2 in June

India's fuel demand up 22% YoY in May from low base in 2021: S&P Global

India's oil product demand in May was up 860,000 barrels per day or 22 per cent year-on-year from a low base in 2021, S&P Global Commodity Insights said in a note.

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.