Page 7 - S&p

Adani Wilmar to be dropped from S&P BSE IPO indices: Asia Index Pvt Ltd

(Reuters) - Asia Index Pvt Ltd said on Friday Adani Wilmar Ltd will be dropped from the S&P BSE IPO index.

Vedanta Resources' liquidity depends on $2 bn fundraising: S&P report

Sustaining after September 2023 would depend on completing one of two key transactions

Declining core inflation limits need for further rate hikes by RBI: S&P

S&P Global Ratings on Tuesday said core inflation in India has been declining sequentially, and an elevated 6.25 per cent policy rate limits the need for further rate hikes. The Reserve Bank has increased the short-term lending rate by 225 basis points since May last year to contain inflation, mostly driven by external factors, especially global supply chain disruption, following the Russia-Ukraine war outbreak. The policy rate now stands at 6.25 per cent. The RBI's rate-setting panel - Monetary Policy Committee (MPC) - will decide on the interest rate on Wednesday. "In India, core inflation has been elevated for longer; however, it eased sequentially in the second half of 2022. An already elevated 6.25 per cent policy rate limits the need for further increases," S&P said in a report. The RBI has been tasked to ensure that retail inflation remains at 4 per cent with a margin of 2 per cent. However, external factors have led retail inflation to remain above the upper tolerance .

S&P withdraws Twitter's credit rating due to lack of sufficient information

Twitter's massive about $13 billion debt load was funded directly by banks led by Morgan Stanley when Musk's $44 billion acquisition of the social media giant closed

S&P Global Ratings lowers India's FY23 GDP growth forecast to 7%

Says domestic demand recovery will support growth

S-P upgrades Axis Bank's long term issuer rating from 'BB+' to 'BBB-'

The upgrade reflects Indian private lender's good asset quality and expectation that the bank will maintain it over the next one to two years

Rated Indian infrastructure firms most exposed to currency risk: S&P

Much of corporate portfolio has dollar-linked revenue and is not exposed to rupee depreciation

S&P cuts Credit Suisse's rating to one level above junk bond status

S&P cut its rating one notch to BBB- and reduced its view on main operating unit Credit Suisse AG

S&P Global withdraws rating of Adani Transmission at firm's request

S&P Global Ratings withdrew its rating for Adani Transmission Ltd., ending an assessment of barely investment grade at the company's request

India's growth, external profile solid buffers against turbulence: S&P

More severe conditions could put pressure on its sovereign credit ratings, says agency

S&P upgrades Greenko Energy to 'BB-' on improving business position

Greenko Energy Holdings' stabilising operating performance with greater resource diversity and manageable execution risk for pumped storage projects will strengthen its business position, S&P said

India is the only growth market for autos globally: S&P Global Mobility

Moody's Investors downgrades global outlook for auto to negative from stable

OECD, S&P keep India's economic growth forecasts unchanged for FY23

S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

SBI least efficient in Asia-Pacific due to high cost-to-income ratio: Study

State-owned lender had the highest cost-to-income ratio, according to S&P Global Market Intelligence

Wall Street drops 1% with all eyes on Fed policy decision on Wednesday

The benchmark US 10-year Treasury yield hit 3.58%, its highest level since April 2011; Ford sees additional $1 bn in inflationary costs, shares fall

Intense competition may shrink margins of gold loan firms, says S&P

Manappuram, Muthoot not facing refinancing challenge yet

Debt-funded acquisitions can put pressure on Adani group ratings: S&P

Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a USD 10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt. S&P Global Ratings Senior Director (Infrastructure Ratings) Abhishek Dangra said the growth ambitions for most of the group entities are fairly high and they have also grown through acquisitions across multiple entities. "If you look at the rated entities (of Adani group), like Adani Ports, their business fundamental is fairly solid. Port business is generating healthy cash flows. Where, probably, the risk could lie ...

S&P downgrades outlook on Pakistan's long-term ratings to 'negative'

The global economic slowdown poses fresh risks to Pakistan's post-pandemic recovery

MPC likely to raise repo rate significantly in upcoming meetings: S&P

Says there is significant slack in the economy, as GDP is far below estimates of pre-Covid trajectory of potential output

India can weather turbulence without damage to credit ratings: S&P

India is likely to lead the region with 7.3 per cent growth in 2022-23 after the GDP grew 8.7 per cent in 2021-22, said the rating agency