Moody’s affirms India’s Baa3 rating, maintains ‘stable’ outlook on economy
1 year, 4 months ago

Moody’s affirms India’s Baa3 rating, maintains ‘stable’ outlook on economy

Live Mint  

Ratings agency Moody's has affirmed BAA3 rating on India and maintained a 'stable' outlook on the Indian economy. India's long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating remains at Baa3, while the other short-term local-currency rating stands at P-3, said Moody's in a statement on August 18. The Indian economy is likely to grow at 6.5 per cent in the financial year 2023- 24, said Reserve Bank of India Governor Shaktikanta Das while announcing the MPC's decision on August 10. India's gross domestic product or GDP grew by 6.1 per cent in the fourth quarter of fiscal year 2022-23, compared to a growth of 4.4 per cent growth in the previous October-December quarter, as per the official data shared by the National Statistical Office. Earlier this year, S&P Global Ratings had also affirmed India's long-term 'BBB-' and A-3 short-term sovereign rating with a stable outlook, citing sound economic fundamentals that will underpin growth over the next 2-3 years.

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Indian Economy to Grow 7.2 Percent in 2024, Moody’s Forecasts
1 month, 1 week ago

Indian Economy to Grow 7.2 Percent in 2024, Moody’s Forecasts

Deccan Chronicle  

New Delhi: Global rating agency Moody’s Ratings on Friday said that the Indian economy is in a sweet spot and projected a 7.2 per cent gross domestic product or GDP growth for India in 2024 with the mix of solid growth and moderating inflation. “Although the central bank shifted its monetary policy stance to neutral while keeping the repo rate …

India in economic sweet spot amid global headwinds: Moody’s
1 month, 1 week ago

India in economic sweet spot amid global headwinds: Moody’s

Live Mint  

New Delhi: India’s economy is in a sweet spot, growing at 7.2% in 2024 with inflation moderating despite a temporary spurt, Moody’s Investors Service India Pvt. According to Moody’s global macro outlook for 2025-26, India’s economy is growing robustly and has the potential to sustain high growth rates as strong private sector financial health reinforces a virtuous economic cycle. Despite …

India to be third largest economy by 2030-31; grow 6.7% per annum: S&P Global
3 months ago

India to be third largest economy by 2030-31; grow 6.7% per annum: S&P Global

Hindustan Times  

India is on track to become the third-largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.7, the credit rating agency S&P Global said in its report named India Forward Emerging Perspectives. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} It further added in its suggestion that a strong port infrastructure is required to match rising exports and bulk …

Moody's Raises India's GDP Growth Forecast to 7.2% Vs 6.8% Earlier, Fitch Affirms Rating
3 months, 3 weeks ago

Moody's Raises India's GDP Growth Forecast to 7.2% Vs 6.8% Earlier, Fitch Affirms Rating

News 18  

Moody’s raised India’s growth projection for 2024 and 2025 citing signs of improving rural demand, while Fitch affirmed the country’s sovereign credit rating, the agencies said in separate releases on Thursday. “These forecast changes assume strong broad-based growth and we recognize potentially higher forecasts if the cyclical momentum, especially for private consumption, gains more traction,” Moody’s said. “Nevertheless, 6%-7% growth …

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P
5 months, 3 weeks ago

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

The Hindu  

A sovereign rating upgrade for India in the next 24 months is possible if the central government is able to prudently manage its finances and bring down fiscal deficit to 4% of GDP, an S&P Global Ratings official said on July 3. S&P Global Ratings Director, Sovereign Ratings, YeeFarn Phua, said the trigger for upgrade would be general government deficit …

India to remain fastest growing Asia-Pacific economy in 2024, predicts Moody's
6 months, 1 week ago

India to remain fastest growing Asia-Pacific economy in 2024, predicts Moody's

India TV News  

Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. India to remain fastest growing economy: World Bank Earlier this week, a Work Bank report stated that India will remain the fastest-growing major economy recording a steady growth of …

Indian banks well placed to ride on economic growth: Moody’s
6 months, 1 week ago

Indian banks well placed to ride on economic growth: Moody’s

The Hindu  

Indian banks and non-bank finance firms are well placed to seize opportunities from India’s strong economic prospects through lending growth in sectors like infrastructure, energy transition, manufacturing, small businesses and retail, Moody’s Ratings said on Wednesday. Moody’s said credit quality of India’s financial system has strengthened over the past 3-4 years due to record-high profitability, low delinquencies and stable domestic …

Coalition crutches could cramp reform chase, say Moody’s, Fitch
6 months, 2 weeks ago

Coalition crutches could cramp reform chase, say Moody’s, Fitch

The Hindu  

With the BJP losing an outright majority in the Lok Sabha, global rating agencies on Wednesday said navigating far-reaching reforms may prove more difficult during a coalition-dependent third term likely for Prime Minister Narendra Modi. While “broad policy continuity” is expected in areas such as the thrust on public capex to spur the economy and gradual fiscal consolidation, a BJP-led …

PM Modi's smaller mandate to slow India's fiscal tightening, Moody's says
6 months, 2 weeks ago

PM Modi's smaller mandate to slow India's fiscal tightening, Moody's says

Hindustan Times  

The narrower margin of victory for Prime Minister Narendra Modi's alliance in elections will forestall reforms that could have potentially facilitated aggressive fiscal consolidation, an analyst at Moody's Ratings said on Wednesday. S&P Global Ratings raised India's sovereign rating outlook to 'positive' from 'stable' last week saying the country's robust economic expansion was having a constructive impact on its credit …

Mint Quick Edit | Will S&P upgrade India’s awkward credit rating?
6 months, 3 weeks ago

Mint Quick Edit | Will S&P upgrade India’s awkward credit rating?

Live Mint  

S&P Global has raised the outlook on India’s credit rating to “positive" from “stable" while affirming its rating of BBB minus. It cited robust economic growth and improved expenditure quality for the move, which puts India’s sovereign rating in the reckoning for an upgrade. While India’s macro numbers broadly seem to be moving in the right direction, government officials have …

S&P upgrades outlook on India's sovereign rating to 'positive' based on country's robust economic expansion
6 months, 3 weeks ago

S&P upgrades outlook on India's sovereign rating to 'positive' based on country's robust economic expansion

India TV News  

S&P Global Ratings has upgraded India’s sovereign rating outlook to 'positive' from 'stable', while maintaining the rating at 'BBB-'. The rating agency's positive outlook on India is predicated on its robust economic growth, pronounced improvement in the quality of government spending, and political commitment to fiscal consolidation, it said. India's GDP growth to aid debt reduction S&P expects India's economy …

S&P Upgrades India’s Outlook to Positive After 10 Years
6 months, 3 weeks ago

S&P Upgrades India’s Outlook to Positive After 10 Years

Deccan Chronicle  

New Delhi: After a gap of 10 years, leading rating agency S&P Global Ratings on Wednesday said that it upgraded India’s sovereign rating outlook to positive from stable on robust growth, improved quality of public spending in the last 5 years and expectation of broad continuity in reforms and fiscal policies as well. “India outlook revised to positive on robust …

S&P ups India's outlook to positive, raises hope for rating upgrade in 2 years
6 months, 3 weeks ago

S&P ups India's outlook to positive, raises hope for rating upgrade in 2 years

Hindustan Times  

New Delhi, Giving thumbs up to the economic management of the Modi government, S&P Global Ratings after a gap of 14 years upgraded India's sovereign rating outlook to positive from stable on robust growth, improved quality of public spending in last 5 years and expectation of broad continuity in reforms and fiscal policies. "India outlook revised to positive on robust …

Moody's maintains stable outlook for India
8 months, 1 week ago

Moody's maintains stable outlook for India

Hindustan Times  

Rating agency Moody's maintained outlook for the government of India to be stable. Maintaining stable outlook, Moody's noted India balances its large and diversified economy with high growth potential, a relatively sound external position, and a stable domestic financing base for government debt against high general government debt, weak debt affordability and low per capita income. Following a series of …

India rating upgrade possible only after fiscal deficit cut, says S&P
1 year ago

India rating upgrade possible only after fiscal deficit cut, says S&P

Live Mint  

India can improve its rating if the country significantly reduces its fiscal deficit, as per S&P's APAC Managing Director Kim Eng Tan. S&P's India GDP Outlook is Positive Last month the rating agency revised India's GDP growth projection for FY24 to 6.4 percent from 6 percent on the back of strong domestic tailwinds. “We have revised up our projection for …

Moody’s affirms India’s sovereign rating at ‘Baa3’; says GDP growth to support increase in income level
1 year, 4 months ago

Moody’s affirms India’s sovereign rating at ‘Baa3’; says GDP growth to support increase in income level

The Hindu  

Moody's on August 18 affirmed India's sovereign rating at 'Baa3' with a stable outlook and said high growth will support a gradual increase in income levels, which will further contribute to economic strength. "Moody's Investors Service has today affirmed the Government of India's long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating atBaa3. All three global rating …

Fitch pares India’s GDP growth forecast for this year to 6% from 6.2%
1 year, 7 months ago

Fitch pares India’s GDP growth forecast for this year to 6% from 6.2%

The Hindu  

Fitch Ratings has lowered its 2023-24 GDP growth forecast for India to 6% from 6.2%, citing headwinds from elevated inflation and interest rates along with subdued global demand, with the economy expected to rebound to 6.7% in 2024-25 as opposed to 6.9% projected earlier. While India will be one of the fastest-growing sovereigns rated by Fitch, bolstered by “resilient investment …

India said to bat for sovereign rating upgrade in review with global agencies
1 year, 9 months ago

India said to bat for sovereign rating upgrade in review with global agencies

The Hindu  

India is seeking an upgrade to its sovereign credit rating, currently at the lowest-possible investment grade, as the Asian nation believes its economic metrics have improved considerably since the pandemic, a senior government official said on Monday. The country's Finance Ministry met representatives from the top three rating agencies – Fitch Ratings, Moody’s Investors Service and S&P Global Ratings – …

Moody’s cuts India’s growth forecast to 6.8%
1 year, 9 months ago

Moody’s cuts India’s growth forecast to 6.8%

The Hindu  

Global rating major Moody’s Investors Service has scaled down its GDP growth forecast for India’s economy to 6.8% for 2022-23, from an earlier projection of 7%. India is among several G20 economies, including the U.S., China, Russia and the Euro area, whose 2023 growth projections were raised by Moody’s in an update to its global macroeconomic outlook on late February …

India’s credit worthiness stable compared to negative outlook for the world: Moody’s
1 year, 11 months ago

India’s credit worthiness stable compared to negative outlook for the world: Moody’s

Live Mint  

NEW DELHI: The outlook on credit worthiness outlook for sovereigns in the Asia-Pacific region, including India, for 2023 is stable, compared to the negative outlook for sovereigns elsewhere, said rating agency Moody’s Investors Service on Monday. “The debt sustainability and financial stability are relatively well anchored in the region, with contained government liquidity risks, broadly stable debt dynamics and generally …

Fitch Ratings affirms India's sovereign rating at 'BBB-', with stable outlook
2 years ago

Fitch Ratings affirms India's sovereign rating at 'BBB-', with stable outlook

India TV News  

Fitch Ratings on Tuesday affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, saying the rating derives strengths from the country's robust growth outlook and still-resilient external finances. It said India's robust medium-term growth outlook is a key supporting factor for the rating. Nevertheless, risks remain given dynamics in labour force participation, the lagging rural sector recovery, and …

Moody’s pares India growth hopes to 7%
2 years, 1 month ago

Moody’s pares India growth hopes to 7%

The Hindu  

Citing the weakening Rupee and high oil prices, global rating firm Moody’s Investors Service on Friday, November 11, 2022, scaled down India’s 2022-23 growth projection from to 7% from an earlier estimate of 7.7% and warned that the economy’s growth will decelerate further to just 4.8% in 2023-24. India, Brazil to be ‘less vulnerable’ However, growth outcomes of the G-20 …

S&P Global retains India’s 2022-23 growth hopes at 7.3%
2 years, 2 months ago

S&P Global retains India’s 2022-23 growth hopes at 7.3%

The Hindu  

S&P Global Ratings has retained its 2022-23 growth projection for India’s economy at 7.3%, citing a smaller impact from the global slowdown on its domestically-driven economy. India’s retail inflation is expected to stay above the 6% mark till the end of 2022, as wheat and rice prices are rising, core inflation has been ‘sticky’ and food inflation may rise again, …

Moody's slashes India's economic growth forecast to 7.7% for 2022
2 years, 3 months ago

Moody's slashes India's economic growth forecast to 7.7% for 2022

The Hindu  

Moody's Investors Service on September 1 slashed India's economic growth projection for 2022 to 7.7%, saying that rising interest rates, uneven monsoon and slowing global growth will dampen economic momentum on a sequential basis. In its update to Global Macro Outlook 2022-23, Moody's said India's Central bank is likely to remain hawkish this year and maintain a reasonably tight policy …

Moody’s cuts India’s 2022 GDP growth forecast
2 years, 3 months ago

Moody’s cuts India’s 2022 GDP growth forecast

Live Mint  

Moody's Investors Service expects India's GDP growth to slow from 8.3% in 2021 to 7.7% in 2022 and to decelerate further to 5.2% in 2023. Data released on Wednesday showed that Indian economy expanded 13.5% year-on-year in the April-June quarter, the fastest pace in a year, but economists said growth is likely to lose momentum in coming quarters as higher …

Moody\'s ups India\'s growth forecast to 9.5% for 2022; flags high oil prices
2 years, 9 months ago

Moody\'s ups India\'s growth forecast to 9.5% for 2022; flags high oil prices

Deccan Chronicle  

New Delhi: Moody's Investors Service on Thursday raised India's growth forecast to 9.5 per cent for the calendar year 2022 and to 8.4 per cent for the coming fiscal beginning April 1, even as it flagged high oil prices and supply distortions as a drag on growth. "We have raised our 2022 calendar year growth forecast for India to 9.5 …

Fitch retains negative outlook for India’s sovereign rating
3 years, 1 month ago

Fitch retains negative outlook for India’s sovereign rating

Live Mint  

Fitch Ratings on Tuesday reaffirmed its lowest investment grade sovereign rating for India with negative outlook holding that the country’s rating balances a still-strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural issues. However, the negative outlook on the rating reflects lingering uncertainty around the medium-term …

Moody's rating agency raises outlook to 'stable' for 18 corporates and banks
3 years, 2 months ago

Moody's rating agency raises outlook to 'stable' for 18 corporates and banks

Firstpost  

This follows the upgrade by the US-based rating agency in India’s sovereign rating outlook to ‘‘stable’’ from ‘’negative’’ on Tuesday New Delhi: Moody’s Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to ‘‘stable’’ from ‘’negative’’. This follows the upgrade by the US-based rating agency in India’s …

Moody’s upgrades outlook on India from ‘negative’ to ‘stable’
3 years, 2 months ago

Moody’s upgrades outlook on India from ‘negative’ to ‘stable’

Hindustan Times  

India on Tuesday had its sovereign credit rating outlook revised to stable from negative by Moody’s Investors Service, on receding risks posed by the financial sector to the overall economy. “The decision to change the outlook to stable reflects Moody’s view that the downside risks from negative feedback between the real economy and financial system are receding. In November 2017, …

CEA Subramanian Says Moody's Needs to Take into Account India's Reforms While Estimating Growth Rate
3 years, 2 months ago

CEA Subramanian Says Moody's Needs to Take into Account India's Reforms While Estimating Growth Rate

News 18  

Krishnamurthy Subramanian, Chief Economic Adviser at the Union Finance Ministry, on Tuesday said international ratings agency Moody’s projection of 6 per cent growth rate in India is an “underestimate” as the country has been “fiscally very prudent”. Assuaged concerns about future NPA’s from retail and MSME’s.” “Moody’s projection of 6 per cent growth rate is an underestimate. In a statement …

Economy Healing: Moody's Revises India's Rating Outlook From Negative to Stable
3 years, 2 months ago

Economy Healing: Moody's Revises India's Rating Outlook From Negative to Stable

News 18  

Rating agency Moody’s on Tuesday revised India’s rating outlook to stable from the negative ranking earlier. Moody’s Investors Service had last year downgraded India’s sovereign rating to ‘Baa3’ — which is the lowest investment grade, just a notch above junk status — from ‘Baa2’, saying there will be challenges in the implementation of policies to mitigate risks of a sustained …

India's economic activity picking pace, further upside to growth likely: Moody's
3 years, 3 months ago

India's economic activity picking pace, further upside to growth likely: Moody's

India TV News  

Moody's Investors Service on Tuesday said the economic activity in India is picking up with the gradual easing of COVID restrictions and there could be further upside to growth as economies around the world gradually reopen. In its August update to 'Global Macro Outlook 2021-22', Moody's retained India's growth forecast for the 2021 calendar year at 9.6 per cent and …

Economic Survey exhorts rating agencies to be more transparent, less subjective in sovereign rating
3 years, 10 months ago

Economic Survey exhorts rating agencies to be more transparent, less subjective in sovereign rating

The Hindu  

India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested …

India’s Sovereign Credit Rating Does Not Reflect Its Fundamentals, Says Economic Survey 2021
3 years, 10 months ago

India’s Sovereign Credit Rating Does Not Reflect Its Fundamentals, Says Economic Survey 2021

News 18  

Economic Survey stated that India’s sovereign credit rating doesn’t reflect its fundamentals. “There is a large academic literature that highlights bias and subjectivity in sovereign credit ratings, especially against countries with lower ratings,” said the survey. “While sovereign credit ratings do not reflect the Indian economy’s fundamentals, noisy, opaque, and biased credit rating damage FPI flows. Sovereign credit rating methodology …

Moody’s cuts ratings on BoB, Canara, two others
4 years, 3 months ago

Moody’s cuts ratings on BoB, Canara, two others

The Hindu  

Moody’s Investors Service has downgraded the long-term local and foreign currency deposit ratings of four public sector banks — Bank of Baroda, Bank of India, Canara Bank and Union Bank of India — to Ba1 from Baa3 and their baseline credit assessments to b1 from ba3. However, the ratings agency affirmed Punjab National Bank’s long-term local and foreign currency deposit …

Moody's Downgrades Deposit Ratings of BoB, BoI, Canara Bank, Union Bank
4 years, 3 months ago

Moody's Downgrades Deposit Ratings of BoB, BoI, Canara Bank, Union Bank

News 18  

Moody's Investors Service on Friday downgraded the long-term local and foreign currency deposit ratings of Bank of Baroda, Bank of India, Canara Bank and Union Bank of India to Ba1 from Baa3. It affirmed Punjab National Bank's long-term local and foreign currency deposit ratings at Ba1 and its BCA at B1 but changed its ratings outlook to negative from stable. …

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