The euro fell by as much as 0.6 per cent to a one-month low of $1.0733 and hit a 21-month trough against sterling of 84.49 pence
This transition is not expected to change ratings on these banks
Major central banks likely to increase pace of tightening to combat inflation; US Fed has already raised its policy rate twice until May, and S&P expects five more hikes in 2022
At the same time, the rating agency affirmed 'C' short-term credit rating
The impact of broader lockdowns on the economy could be substantial, depending on their length and scope, S&P said in a statement
India faces a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10 per cent of GDP
Strong operating momentum and sizable free cash flow generation at Vedanta Ltd also improve liquidity at the holding company level
Growing debt; weakening counter parties driving risks
The bank, according to the rating agency, has ample capital buffers, as reflected in its Tier-I capital ratio of 17.7 per cent as on September 30, 2020
It assessed that impact of the rising Covid-19 cases on private spending and investment will be for a longer period than what was expected earlier
Experts say comfortable capital levels, strong market position positive for both
India must walk the talk on deep structural reforms
All that happened in the markets today
The change brings Moody's rating into line with Fitch and Standard and Poor's, both of which rate India BBB-, although they assign stable rather than negative outlooks
Its parent Standard & Poor's has (S&P) forecast the world economy to contract 2.4 per cent, against its earlier estimates of 0.4 per cent growth.
The interest payment was due on February 1, 2020, and the 30-day grace period ended on March 3, 2020, S&P said in a statement
Moody's upgraded India's rating to Baa2 from Baa3 on November 16
Instead of complaining, Indian government and bureaucracy should be focussing on the reasons the agencies are pointing at for not raising the rating
Banks in India and China will continue to face pressures on their asset quality, profitability over next 12-24 years, report said