Page 13 - S&p

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 .

Proposed corporate ownership of Indian banks poses high risks, says S&P

Pointing to the upside from proposed norms, the agency said recommendation to harmonise licensing guidelines for all banks, new and old, will help restore a level playing field for all players

Wall St surges at open as Moderna says its Covid vaccine 94.5% effective

The Dow Jones Industrial Average .DJI rose 192.55 points, or 0.65%, at the open to 29,672.36

S&P 500, Dow Jones hit record highs on coronavirus vaccine optimism

(Reuters) - The S&P 500 and Dow hit record highs moments after the open on Monday, as news of the first successful late stage COVID-19 vaccine trials stirred hopes of the economy emerging from a year of pandemic-driven crisis.

'Great day for humanity': Pfizer says Covid-19 vaccine over 90% effective

President-elect Joe Biden said the news was excellent but did not change the fact that face masks, social distancing would be needed well into next year

Covid-19 impact: S&P downgrades Tata Motors outlook to negative from stable

The rating agency cites weaker than expected operating performance as the reason for downgrade

Profit surge shows SBI can withstand tough operating conditions: S&P

However, asset quality may slip; GNPAs could rise to 8.5%

Wall Street rallies with US Election Day underway; Dow Jones rises over 2%

The S&P 500 was up 57.67 points, or 1.74%, at 3,367.91, and the Nasdaq Composite was up 171.87 points, or 1.57%, at 11,129.49

Investors gravitate towards index funds, ETFs as equity funds underperform

Fifteen of the 16 debt categories have beaten diversified equity funds over a three-year period, data shows

Axis Bank well-placed to face downside risks due to tough conditions: S&P

Asset quality to be weaker than HDFC Bank

S&P 500, Dow sink to September lows on spiraling pandemic, election worry

All three major indexes fell about 3 per cent

S&P ends choppy session lower as US stimulus package talks drag on

The Dow Jones Industrial Average fell 97.97 points, or 0.35%, to 28,210.82, the S&P 500 lost 7.56 points, or 0.22%, to 3,435.56

S&P affirms India's "BBB-" rating with stable outlook; weak points flagged

Agency sees major economic recovery in 2021, normalisation by fiscal 2022; also refers to weak fiscal settings, such as elevated govt deficits and indebtedness, low per capita income

S&P affirms India's 'BBB-' rating, projects 10% GDP growth in FY22

"The stable outlook reflects our view that India's contraction in fiscal 2021 will be followed by a significant recovery, which will stabilise the country's broader credit profile," said S & P

Top headlines: Harley-Davidson exits India, S&P on Indian banking system

From BSE 500 index underperforming since March, GAIL cutting supplies after fire at ONGC plant to S&P on banking system recovery, Business Standard brings you top news of the evening

S&P, Nasdaq retreat as data show weak domestic business activity

Data from IHS Markit showed gains at factories were offset by a retreat at services industries in September

Global automobile sales forecast to fall by 20% this year, says S&P

Global light vehicles sales are expected to fall by 20 per cent this year compared with 2019 following sales and production disruption due to the COVID-19 pandemic, S & P Global Ratings in a report published on Friday."This new forecast follows a first-half 2020 sales slump of 25 per cent, an unprecedented shock for the global industry," said S & P Global Ratings analyst Vittoria Ferraris."We project global vehicle sales to expand 7 to 9 per cent both in 2021 and 2022, meaning that light vehicle sales two years from now will still be 6 per cent below 2019 volumes."Any upside to our sales scenario will stem mainly from the Chinese market, the most dynamic but least predictable among the main global auto markets, said Ferraris adding that China may be the only market to catch up with 2019 volumes by the end of 2022.S & P said its global auto sales forecast is more conservative than general market standards.But it deems it consistent with the pandemic-related dramatic squeeze