Page 2 - Sovereign

An Adani Group company likely to be rated higher than sovereign: Report

An Adani Group firm is likely to be soon rated above India's sovereign rating as the ports-to-energy conglomerate helmed by Gautam Adani, Asia's richest man, sees rapid growth in business and lower debt. Adani Group CFO Jugeshinder (Robbie) Singh told a select group of investors on October 10 in New Delhi that an announcement will soon be made of one of the group firms becoming the first Indian firm with all its business in the country, to be rated higher than the sovereign, according to two persons present at the meeting. Singh, however, did not name the company. Global credit rating agencies such as S&P and Fitch have assigned the lowest investment grade rating of 'BBB-' to India. Most companies including public sector giants are rated at par or below the sovereign rating. In June last year, Fitch Ratings upgraded rival billionaire Mukesh Ambani's Reliance Industries Ltd to a notch above India's sovereign rating citing an improving debt profile. But Reliance, some may argue, ha

Fitch affirms Bank of Baroda, subsidiary at 'BBB-' with stable outlook

Action factors in a high likelihood of sovereign support to the public sector lender; rating agency says profitability to rise further; high loan growth to resume

Centre cuts FY23 borrowing target by Rs 10k cr amid robust tax collections

The government will borrow Rs 5.92 trillion, or 41.6 per cent of the new FY23 target, in October-March, including from the issuance of its maiden sovereign green bonds of Rs 16,000 crore

Global sovereign debt to rise almost 10% to new high in 2022: Report

Governments across the world have ramped up borrowing since the Covid-19 pandemic erupted two years ago, as they tried to shield their economies from the fallout.

Best of BS Opinion: Prospects of Indian companies, economic policy and more

Here is the best of Business Standard's opinion pieces for Thursday

Bureaucracy doesn't distinguish between sovereign and absolute power

Even after scrapping the 'retrospective tax' the bigger problem of the bureaucratic interpretation of sovereign power remains unresolved. The time has come for Parliament to sort out the confusion

Discard 'colonial notion' of sovereignty in handing out doles at will: SC

The state must discard the colonial notion that it is a sovereign handing out doles at its will and is bound to act fairly and in a transparent manner, the Supreme Court Tuesday said

Govt reviews interest rates on sovereign gold bonds

Next tranche could be sold through exchanges