Page 11 - S&p

S&P upgrades Tata Steel's rating to BB- on deleveraging, operating momentum

In the base-case scenario, Tata Steel's adjusted debt could decline by about 30 per cent by March 2023 from the March 2020 level of about Rs 1 trillion

India, Philippines most vulnerable in a taper tantrum-like scenario: S&P

One mitigating factor for both countries is that current accounts are stronger relative to normal levels, notes S&P

Campaign group asks S&P to review Adani Ports in DJ Sustainability index

MELBOURNE (Reuters) - Environmental campaign group Market Forces has asked S&P Global to review the inclusion of India's Adani Ports and Special Economic Zone Ltd in a Dow Jones Sustainability Index, citing its ties to the Myanmar military and role in developing a new thermal coal mine.

Fitch, S&P rate IRFC's proposed USD senior unsecured notes at BBB-minus

Fitch Ratings has assigned Indian Railway Finance Corporation's (IRFC's) proposed US dollar Regulation senior unsecured notes a rating of BBB-minus.The proposed notes will be issued under IRFC's existing four billion dollars global medium-term note programme.The net proceeds from proposed notes will be used for funding acquisition of rail assets which IRFC will lease to Indian Railways, and to meet debt-financing requirements of various entities in the railway sector.Fitch said the proposed notes are rated in line with IRFC's issuer default rating on the basis that the notes issued under the programme will constitute direct, unconditional and unsecured obligations of IRFC and rank pari passu (on equal footing) with all its other present and future outstanding unsecured and unsubordinated obligations.Meanwhile, S & P Global also assigned BBB-minus rating to long-term foreign currency issue rating to IRFC's proposed benchmark size senior unsecured US dollar notes.

S&P 500 surges in strongest one-day rise since June as calm return to bonds

(Reuters) - The S&P 500 surged on Monday in its strongest one-day gain since June as bond markets calmed after a month-long selloff, while another COVID-19 vaccine getting U.S. approval and fiscal stimulus bolstered expectations of a swift economic recovery.

F&O expiry: Sensex gains 258 pts, ends Feb series 8% higher; RIL surges 4%

Sectorally, the Nifty Metal, PSU Bank, and Bank indices advanced 25 per cent, 40 per cent, and 20 per cent, respectively during the February F&O series

India's economic recovery to cut bank stress, but Covid hit to be felt: S&P

While the Indian economy is on a mend, the permanent GDP loss stemming from the brunt of the coronavirus is huge at 10 per cent

S&P assigns BBB-minus to Bharti Airtel's proposed senior unsecured notes

S & P Global Ratings on Tuesday assigned BBB negative long-term issue rating to senior unsecured notes that Bharti Airtel Ltd proposes to issue.At the same time, it assigned BB long-term issue rating to proposed subordinated perpetual securities (PERPS) issued by Network i2i Ltd and guaranteed by Bharti Airtel.Bharti Airtel will use the proceeds for capital expenditure, repayment of existing debt or any other purpose as allowed by regulations.The proposed PERPS are similar to the existing PERPS, ranking senior only to Bharti Airtel's equity. They will have five-year resettable coupons starting from 5.25 years with step-ups of 25 basis points after the initial term of 10.25 years and a further 75 basis points after 25.25 years."Hence, we consider the PERPS to have an effective maturity of 25.25 years," said S & P."Consequently, we assess the proposed PERPS as having intermediate equity content up to the first reset date at 5.25 years."This is because the remaining period until .

Bears tighten grip; Sensex slips 400 pts, Nifty holds 15,200; PSBs rally

In the intra-day session, the Sensex and the Nifty indices touched a low of 51,586 and 15,171, respectively.

Reining in fiscal deficit key to India keeping investment grade rating: S&P

S&P currently has India at 'BBB-'

Indian economy on track for recovery from upcoming fiscal, says S&P

S&P Global Ratings on Tuesday said Indian economy is on track for a recovery in the next fiscal year beginning April 1, as consistent good performance of the farm sector, flattening COVID-19 infection curve, and a pickup in government spending are all supporting the economy. Stating that India needs many things to be right for its recovery to continue, S&P said the country needs to quickly and thoroughly vaccinate most of its 1.4 billion people. "The emergence of yet more contagious COVID-19 variants with the potential to evade vaccine-derived immunity present a major risk to this recovery. As does the possibility of early withdrawal of global fiscal stimulus," S&P said in a report titled 'Cross-sector outlook: India's escape from COVID'. It said the budget for fiscal 2021-22, will also support the recovery, with higher than expected expenditures. India's improving growth prospects are critical to its ability to sustain the higher deficits associated with its more ...

India on track for economic recovery in fiscal year ending March 2022: S&P

India is on track for an economic recovery in the fiscal year ending March 2022, S & P Global Ratings said on Tuesday.Consistently good agriculture performance, a flattening of the Covid-19 infection curve and a pickup in government spending are all supporting the economy, it said in a report titled 'Cross-Sector Outlook: India's Escape From Covid.'India needs many things to be right for its recovery to continue. Most significantly, the country needs to quickly and thoroughly vaccinate most of its 1.4 billion people."The emergence of yet more contagious Covid-19 variants with the potential to evade vaccine-derived immunity present a major risk to this recovery. As does the possibility of early withdrawal of global fiscal stimulus," said the report.However, near-term prospects are positive. With a sustained decline in national confirmed Covid-19 cases allowing for a gradual relaxation of formerly stringent epidemic control measures, high frequency economic indicators continue to ...

Sensex ends 222 pts higher, Nifty tops 15,150; RIL gains 4%, PSB stocks dip

On the sectoral front, Nifty PSU Bank index declined over 1 per cent on the NSE, followed by losses in the Nifty Auto index (down 0.4 per cent), and the Nifty Realty index (down 0.24 per cent)

S&P 500, Nasdaq scale new highs on stimulus progress, job market rebound

J&J files Covid-19 vaccine application with the FDA; Indexes up: Dow 0.48%, S&P 0.37%, Nasdaq 0.11%

Union Budget 2021: S&P gives a thumbs up, Nomura calls it a positive

"Likewise, we believe that the resolution of troubled assets could be faster with weak assets consolidated in a single entity, rather than multiple banks negotiating resolution terms," S&P added

S&P, Nasdaq hit record highs as stimulus hopes outweigh dire jobs report

(Reuters) - The S&P 500 and the Nasdaq scaled new highs on Friday, as hopes of more economic stimulus to ride out a pandemic-led downturn eclipsed concerns over a significant loss of pace in a labor market recovery.

MARKETS: Sensex ends volatile session 133 pts higher ahead of F&O expiry

All that happened in the markets today

S&P affirms Indian Bank's 'BBB-' rating, removes from CreditWatch

The Chennai-based public sector lender is expected to benefit from faster-than-expected economic recovery in India

S&P affirms Union Bank's long, short term rating, revises SACP to 'BB-'

The bank's capital buffers have weakened due to the its merger with Andhra Bank and Corporation Bank earlier this year

S&P affirms Shriram Transport Finance Co's rating, removes from CreditWatch

The company is likely to sustain a recent improvement in its resource mobilisation, collections, and on-balance-sheet liquidity over the next 12 months, S&P said in a statement