STFC, Muthoot Finance drop up to 17% on Fitch rating downgrade
The long-term issuer default ratings (IDRs) of STFC and MFL have been downgraded to BB from BB+.
Fitch Solutions cuts India GDP growth forecast to 4.6% for FY21
Fitch Solutions joins a chorus of international agencies that have made a sim...
Stocks in the news: Sun Pharma, Vedanta, STFC, Union Bank and Hero MotoCorp
USFDA has classified Halol facility in Gujarat as Official Action...
Fitch Ratings: APAC thermal power project ratings unaffected by coronavirus
In India it has rated Lalitpur Power Generation Company Ltd’s senior secured note under the thermal power project rating criteria.
Fitch Ratings assigns stable outlook to Tata Chemicals
TCL is the world's third-largest soda ash producer, with a geographic footprint across India, the US, the UK and Kenya.
Fitch cuts India growth forecast to 5.1% for FY'21 in wake of coronavirus outbreak
The difficulties facing the Indian economy have been exacerbated by Yes Bank failure, the ratings agency said.
Bharti Airtel may gain 30 mn subscribers in FY21: Fitch
Fitch said its stable outlook for Bharti Airtel reflects its view that the equity injections and tariff increases are more than sufficient to offset the rise in debt to pay regulatory dues based on adjusted gross revenue (AGR) of up to $4.9 billion (₹35,000 crore).
NBFCs' challenges could intensify following Yes Bank restructuring: Fitch
The Reserve Bank of India (RBI) last week seized Yes Bank after noticing a surge in withdrawals by depositors.
Coronavirus may light fuse on ‘unexploded bomb’ of corporate debt
Something bad is now happening. As the coronavirus outbreak spreads, halting factories from China to Italy, sending stock markets plunging and prompting fears of a worldwide recession, historic levels of corporate debt threaten to intensify the economic damage.
Proposed LIC IPO to benefit insurance industry: Fitch
Fitch said it expects that the initial public offering (IPO), once executed, may also encourage some of the other private sector insurance companies to list some of their shares in the stock market over the medium term.
Fitch assigns 'BBB-' rating to REC’s proposed dollar notes
REC's ratings are equalised with those of India -- BBB- (stable). Fitch believes there is a high likelihood of REC receiving extraordinary state support, if required, based on the state's indirect ownership and ultimate control, as well as the company's policy role in supporting India's electricity sector.
RBI's gradual shift from transparency to forbearance towards stressed sectors
RBI has resisted pressure on a package for NBFCs, but permitted banks not to classify defaulters in MSME, realty.
Voda Idea not in position to raise money for AGR dues, Bharti to gain: Nitin Soni, Fitch Ratings
Nitin Soni, Director, Corporates, Fitch Ratings says the only option they have is to get an equity injection from the promoters which also seems unlikely as Vodafone PLC has completely written off the investment in Vodafone Idea.
Financial companies likely to face difficult operating environment: Fitch
Slower growth will likely intensify asset-quality tensions particularly for NBFCs, real estate and lending to SMEs.
PGCIL not to move TDSAT; other PSUs may follow suit
State-run Power Grid Corporation of India (PGCIL) will not go to the telecom tribunal against the telecom department's (DoT) demand notice for Rs 22,168 crore as licence fee dues, as it feels the Supreme Court's latest order and hearing seem to exempt it, a senior government official said.
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