Page 12 - S&p

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

S&P revises India's FY21 GDP contraction forecast to 7.7% from 9% earlier

S&P Global Ratings on Tuesday raised India's growth projection for the current fiscal to (-) 7.7 per cent from (-) 9 per cent estimated earlier on rising demand and falling COVID infection rates. "Rising demand and falling infection rates have tempered our expectation of COVID's hit on the Indian economy. S&P Global Ratings has revised real GDP growth to negative 7.7 per cent for the year ending March 2021, from negative 9 per cent previously," S&P said in a statement. The US-based rating agency said its revision in growth forecast reflects a faster-than-expected recovery in the quarter through September. For the next fiscal, it projected India's growth to rebound to 10 per cent. India's gross domestic product fell 7.5 per cent in the July-September quarter, against a contraction of 23.9 per cent in the April-June quarter. S&P said India is learning to live with the virus, even though the pandemic is far from defeated and reported cases have fallen by more than half ...

S&P downgrades Sri Lanka's rating on rising external financing risks

With the implementation of expansionary budget measures in Sri Lanka, the country's fiscal position is expected to deteriorate materially over the next few years

ICICI Bank, Indian Bank at risk of becoming 'fallen angels', warns S&P

S&P terms an entity a "fallen angel" if its rating is lowered to speculative-grade from investment-grade

S&P to buy IHS Markit in $44 bn mega deal to form Wall Street data giant

S&P Global is renowned for providing debt ratings to countries and companies, as well as data on capital and commodity markets worldwide.

S&P retains India's GDP forecast at 9% contraction for current fiscal

S&P Global Ratings on Monday retained its forecast of 9 per cent contraction in the Indian economy for the current fiscal, saying even though there are now upside risks to growth but it will wait for more signs that COVID infections have stabilised or fallen. S&P, in its report on Asia Pacific, projected the Indian economy to grow at 10 per cent in the next fiscal. "We retain our growth forecast of negative 9 per cent in fiscal 2020-2021 and 10 per cent in fiscal 2021-2022. While there are now upside risks to growth due to a faster recovery in population mobility and household spending, the pandemic is not fully under control. "We will wait for more signs that infections have stabilised or fallen, together with high-frequency activity data for the fiscal year third quarter, before changing our forecasts," S&P said. According to the official data released last week, Indian economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped ..

Bad loans in Indian banking sector to rise in next 12-18 months: S&P

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11 per cent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is "masking" problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the proportion of Non-performing loans (NPL) to total loans declined consistently so far this year. "While financial institutions performed better than we expected in the second quarter, much of this is due to the six-month loan moratorium, as well as a Supreme Court ruling barring banks from classifying any borrower as a non performing asset," S&P Global Ratings credit analyst Deepali Seth-Chhabria said. In its report titled "The Stress Fractures In Indian Financial Institutions", S&P said with loan repayment moratoriums having ended on August 31, 2020, NPLs in the banking sector will likely shoot up to 10-11 per cent .