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MOODYS AGENCY
Israel's long-term credit rating is downgraded by S&P, 2nd major US agency to do so, citing conflict
Israel's credit rating downgraded by S&P due to Iran conflict. Drone attack near Isfahan. Moody's also downgraded over Hamas. Hezbollah confrontation ongoing. Gaza Strip tensions remain high. S&P's negative outlook, May 10 review pending."}
Moody’s retains India’s rating with stable outlook; projects over 6% growth in FY25 and FY26
Moody's reaffirmed India's credit rating at Baa3 with a stable outlook, expecting over 6% growth in the next two fiscal years. It cited a balanced credit profile with high growth potential and a stable financing base against high debt and weak affordability. The agency predicted 8% growth in FY24, driven by infrastructure investment and anticipated further growth from private consumption and investment
Moody's maintains stable outlook for India but flags rising 'political tensions'
Moody's maintains India's Baa3 rating but warns of risks from political tensions and weak debt affordability. Fiscal metrics may improve with robust growth, but challenges like inflation and high interest rates persist, impacting spending control and debt reduction efforts.
India to be fastest growing economy among G-20 nations in 2024, all big rating agencies revised country's growth upwards
On Saturday, finance minister Nirmala Sitharaman said in an event at Mumbai that India will grow over 8 per cent in the January-March quarter of 2024. The country has become the 5th largest economy of the world and the Modi government has pledged to make it the 3rd largest by 2027.
Domestic demand to keep India's growth above other G20 emerging markets: Moody's
India's real GDP growth accelerated to 8.4 per cent year over year in the October-December quarter of 2023, up from upwardly revised prints of 8.1 per cent in July-September and 8.2 per cent in April-June.
Moody’s affirms 'Ba3' rating on Tata Motors with positive outlook post demerger move
The demerger is subject to shareholders and regulatory approvals, and the automaker expects to complete it within the next 12-15 months. The positive outlook on Tata Motors reflects Moody's view that the upgrade momentum on its ratings should continue with or without the proposed demerger. The rating agency expects all of the company’s businesses to continue to deliver on their strategic growth priorities, while maintaining a balanced financial policy that focuses on achieving net-zero automotive debt by March 2025.
Moody's raises India's 2024 GDP forecast to 6.8% from 6.1%
Moody's on Monday raised India's GDP growth estimate for 2024 to 6.8 percent from 6.1 percent. The boost in economic growth during the October-December quarter, which reached 8.4 percent, was attributed to a significant decrease in key subsidies.
Unemployment rate declined to the lowest level of 3.1% in 2023, from 3.6% in 2022: Govt data
Global rating agency Moody’s, Monday, raised India’s growth estimate for 2023 by a percentage point to 7.7% from 6.7% projected earlier. Growth is expected to ease to 6.8% in 2024 and 6.4% in 2025, it noted. India recorded over 8% growth during the April-December period.
India’s growth forecast revised upward to 6.8% in 2024 and 6.4% in 2025: Moody’s
The rating agency also revised the 2025 forecast upwards to 6.4% in its Global Macro Outlook 2024-25 from 6.3% projected in November 2023, projecting India to be the fastest-growing economy over the next two years.
Give up Moody & Poor standards: Nilesh Shah
India's engagement with global rating agencies has not yielded desired results for its sovereign credit rating. However, the country has successfully engaged with agencies managing global bond and equity indices, resulting in increased weight in the indices. India aims to further enhance its position by upgrading South Korea's status and ensuring full inclusion of HDFC Bank in the index.
Moody's affirms Axis Bank deposit rating citing opportunity to strengthen market position
Moody's expects the bank's asset quality to remain broadly stable as India's economic momentum continues to be robust. Indian corporates' improving profitability and deleveraged balance sheets are supporting stable asset quality.
Moody’s revises outlook on 4 Adani Group cos to 'Stable' from 'Negative' after a year
The global ratings agency has revised the outlook on Adani Green Energy, Adani Green Energy Restricted Group (AGEL - RG-1), Adani Transmission Step One, and Adani Electricity Mumbai to “stable” from “negative”, it said in a release.
Adani Ports secures top position for climate actions
Adani Ports and Special Economic Zone Ltd (APSEZ) has been ranked first in four global rating agencies for its climate actions and environmental performance. The company secured a 'leadership band' in CDP Climate Assessment 2023, first in the environmental dimension by S&P Global CSA 2023, and top rank in the marine ports sector by Sustainalytics.
Moody's downgrades Israel's credit rating on war risks; outlook negative
The country's rating was cut to "A2," which is five notches above investment grade, while its credit outlook was kept at negative by Moody's, meaning a further downgrade is possible.
Moody's downgrades UPL Corporation post weak operating results in Q3
The rating agency has downgraded to Ba1 from Baa3 the senior unsecured rating for UPL Corporation Limited, it said on Tuesday.
The ratings rumble: Sitharaman's prudent budget revives an old dispute
Three credit rating agencies hold over 90 per cent of the global market. Two of these agencies have said that FM Sitharaman's interim budget changes little for them at this time. The government has been for long complaining about the rating agencies failing to acknowledge India's improving economic conditions and of biases in their approach.
Sitharaman to rating agencies after Budget: India is not just adhering to, but bettering its fiscal roadmap
Union finance minister Nirmala Sitharaman announced on Thursday that the government is not only aligning with the previously set fiscal consolidation roadmap, but also improving upon it. Sitharaman made this statement during a press conference following the presentation of the interim Budget, in response to a question about the message for rating agencies regarding India.
India yet to see significant improvement in debt affordability - Moody's
Moody's analyst says India's debt affordability hasn't significantly improved, keeping sovereign ratings unchanged. The government's fiscal consolidation trend is positive, but proactive measures for revenue generation and achieving the fiscal deficit target are critical. India plans to reduce the budget gap sharply by 2024/25. Economic growth is healthy, supporting momentum in revenue generation. The government may need to support the economy amidst global risks.
Moody's downgrades rating on senior unsecured bonds issued by Vedanta Resources
The rating for the Corporate Family Rating (CFR) of Vedanta Resources was also downgraded to Caa3 from Caa2, Moody's said. Last week, Vedanta Resources, the UK-headquartered parent company of Vedanta group, received bondholders' approval to restructure four series of bonds.Load More
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