Page 2 - Standard And Poor's

S&P upgrades Manappuram Finance's long term rating from 'B+' to 'BB-'

S&P expects that Manappuram Finance will continue to perform better than its NBFC peers over the next 12 months

Standard and Poors affirms BB/B ratings on IDBI Bank with negative outlook

S & P Global Ratings has affirmed BB long-term and B short-term foreign currency issuer credit ratings on IDBI Bank.It also affirmed BB programme rating on the senior unsecured notes under its medium-term notes (MTN) programme and then withdrew the ratings at the bank's request.S & P said the outlook was negative at the time of withdrawal. "We affirmed the ratings because we expect IDBI Bank's improving financial performance to offset the risk of bank's weakening link with the government."The Union Cabinet has approved strategic disinvestment along with the transfer of management control in IDBI Bank. "We considered this as a key transition risk for the rating over the next 12 to 18 months."The high uncertainty associated with an eventual timeline of divestment raises further transition risk. S & P said the strategic sale in IDBI Bank will likely be challenging in the current year owing to the bank's low equity valuation and wary investor sentiment under Covid-19.S & P

S&P Global Ratings affirms BB/B ratings on IDBI Bank with negative outlook

S & P Global Ratings has affirmed BB long-term and B short-term foreign currency issuer credit ratings on IDBI Bank.It also affirmed BB programme rating on the senior unsecured notes under its medium-term notes (MTN) programme and then withdrew the ratings at the bank's request.S & P said the outlook was negative at the time of withdrawal. "We affirmed the ratings because we expect IDBI Bank's improving financial performance to offset the risk of bank's weakening link with the government."The Union Cabinet has approved strategic disinvestment along with the transfer of management control in IDBI Bank. "We considered this as a key transition risk for the rating over the next 12 to 18 months."The high uncertainty associated with an eventual timeline of divestment raises further transition risk. S & P said the strategic sale in IDBI Bank will likely be challenging in the current year owing to the bank's low equity valuation and wary investor sentiment under Covid-19.S & P

Cyberattacks could trigger more rating actions on banks, says S&P

The banking sector is becoming more exposed to cybercrime after the Covid-19 pandemic accelerated digitalization and remote working

Climate-change linked downgrades could cost countries $270 billion-a-year

The estimates comes amid warnings by policy makers from around the world that financial markets are underpricing the risk of climate change on asset prices, with potentially costly future corrections

Profits, credit quality of firms in India recovering 6 months faster: S&P

Profits and credit quality of companies rated by S & P Global Ratings in India, China and Pacific are recovering about six months faster than the agency anticipated with reducing downside risk to ratings.Indonesian companies, on the other hand, are unlikely to recover until the second half of 2022, said the report titled 'Asia Pacific Corporate and Infrastructure Credit Outlook 2021' which covers entities in India, China, Japan, Indonesia, Australia and New Zealand.The report discusses the pace at which corporate sector in these countries is likely to recover from Covid-19 pandemic. It also includes a list of credit trends on the radar of S & P Global Ratings analysts in 2021, including demand recovery, funding conditions and financial discipline."Significant downside risk persists for the credit quality of Asian companies with negative rating outlooks on nearly 25 per cent of investment-grade and about one-third of speculative grade companies we rate in region," said S & .

Budget 2021 a big effort by govt to boost country's economic recovery: S&P

The rating agency, in a statement, said it currently sees no material effect from the Budget on India's key credit factors

Bajaj Finance has enough headroom to withstand moderate downside risks: S&P

BFL's credit costs will stay elevated at about 5 per cent in fiscal 2021 and improve to 2.5-2.7 per cent of total loans in fiscal 2022

Rating agencies upbeat on cash-starved Lakshmi Vilas Bank merger with DBS

This deal is positive for India's banking sector and will bring much-needed relief to LVB, which has been struggling for many years, S&P said in a statement

Weak assets of Indian banks may shoot up to 14% by March 2021: S&P

The tough operating conditions could lead to a rise in non-performing loans (NPLs) and credit costs. It may also result in delay in recoveries for the banking system

S&P downgrades Axis Bank's issuer rating over risks to Indian banking

Affirming the ratings on 7 other Indian banks, the rating agency said that it expected a very high likelihood of government support underpinning its ratings on government-owned banks

Axis Bank's Q4 loss reflects rise in systemic risks in banking sector: S&P

Axis' credit costs for the quarter ended March 31, 2020 are higher than anticipated, but some of it is precautionary

YES Bank rescue plan may cause wider economic pain in the country, says S&P

The risk premiums for AT1 instruments of private sector banks in India will spike in the aftermath of the Yes Bank bailout according to the rating agency

S&P reaffirms India's sovereign rating at BBB- with stable outlook

Global rating agency S&P has reaffirmed sovereign rating of India with stable outlook, Economic Affairs Secretary Atanu Chakraborty said on Tuesday. The rating action comes weeks after another global agency Moody's Investors Service lowered the country's rating outlook to "negative" from "stable". "S&P has reaffirmed sovereign rating of India at BBB- with stable outlook. They have stated that India's economy continues to achieve impressive long-term growth rates despite a recent deceleration," Chakraborty said in a tweet. 'BBB' signifies adequate capacity on an entity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to weaken its capacity to meet financial commitments. The rating action comes at a time when the government is facing flak from opposition parties for not doing enough to check the slide in economic growth, which hit six year lower low of 4.5 per cent in the second quarter of the current ...

Indian banks' recovery will see delay on NBFC, corporate stress: S&P

The growth and profitability of finance companies (fincos) are also likely to remain under pressure, S&P said

S&P sued in Aus for A$190 mn for 'weakening ratings model to win business'

In the 10 years since the global financial crisis, S&P has settled lawsuits in the US over its ratings of CDO

S&P affirms India's sovereign ratings, says outlook is stable

Improved monetary stability, sound external profile are major plus, says the ratings agency

Structural reforms must for 8% growth: S&P

S&P said GST is the next item on the "to do" list as the government pushes for structural reforms