Moody’s downgrades 11 banks
4 years, 7 months ago

Moody’s downgrades 11 banks

The Hindu  

Ratings agency Moody’s has taken rating action on 11 banks as well as 11 companies, a day after it downgraded India’s sovereign rating to Baa3 from Baa2. Among banks, Moody’s has downgraded the long-term local and foreign currency deposit ratings of HDFC Bank and State Bank of India to Baa3 from Baa2, and the long-term issuer rating of EXIM India to Baa3 from Baa2, while maintaining ‘negative’ outlook. In the case of Central Bank of India and Indian Overseas Bank, Moody’s has affirmed their long-term local and foreign currency deposit ratings at Ba2 and their BCAs at b2. Oil firms get ‘negative’ Moody’s also downgraded the ratings of major Indian companies such as ONGC, HPCL, Oil India Limited, IOCL, BPCL, Petronet LNG Limited, TCS, and Infosys Limited to negative on Tuesday.

Indian Bank Ratings Limited Rating Downgraded India  11  downgrades  rating  moodys  bank  banks  limited  baa3  downgraded  india  longterm  ratings

History of this topic

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 …

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 …

India said to bat for sovereign rating upgrade in review with global agencies
1 year, 10 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 – …

Pakistan: Moody’s downgrades long-term deposit ratings of five banks
1 year, 10 months ago

Pakistan: Moody’s downgrades long-term deposit ratings of five banks

Live Mint  

Pakistan's economic crisis has continued to get worse with each passing day. Now, the international rating agency company, Moody's Investors Service has reportedly downgraded the long-term deposit ratings of five Pakistani banks to Caa3 from Caa1. According to Moody's Investors Service, the five banks to be downgraded on deposit rating include Allied Bank Limited, Habib Bank Ltd, MCB Bank Limited, …

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

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

Moody’s downgrades Delhi International Airport ratings to B1
3 years, 7 months ago

Moody’s downgrades Delhi International Airport ratings to B1

Live Mint  

Moody's Investors Service has downgraded Delhi International Airport Ltd's corporate family rating and senior secured ratings to B1 from Ba3. The rating downgrade reflects adverse impact of reduced passenger traffic and airport revenue in the current fiscal year ending March 2022 due to surge in daily infection numbers since late March. "We believe the consequent reduction in revenue will lead …

Moody’s cuts ratings on BoB, Canara, two others
4 years, 4 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, 4 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. …

Rahul Gandhi voices concern over state of India's economy; says Moody's has rated Narendra Modi's handling of India's economy a step above 'junk
4 years, 7 months ago

Rahul Gandhi voices concern over state of India's economy; says Moody's has rated Narendra Modi's handling of India's economy a step above 'junk

Firstpost  

Moody’s Investors Service has downgraded India’s sovereign credit rating for the first time in more than two decades, New Delhi: Congress leader Rahul Gandhi on Tuesday voiced concern over the state of India’s economy, saying global rating agency Moody’s has termed its handling by Prime Minister Narendra Modi “a step above junk”. “Moody’s has rated Modi’s handling of India’s economy …

Moody’s downgrades India’s rating; sees FY21 GDP contracting 4%
4 years, 7 months ago

Moody’s downgrades India’s rating; sees FY21 GDP contracting 4%

The Hindu  

Rating agency Moody’s downgraded India’s foreign currency and local currency long term issuer ratings to Baa3 from Baa2, while maintaining a negative outlook, citing prolonged period of low growth and further deterioration in the government’s fiscal position. The rating agency expects the country’s GDP to contract by 4% in the current financial year due to the shock from the pandemic …

Moody's downgrades India's rating to Baa3; outlook remains ‘negative’; says move not driven by impact of COVID-19 outbreak
4 years, 7 months ago

Moody's downgrades India's rating to Baa3; outlook remains ‘negative’; says move not driven by impact of COVID-19 outbreak

Firstpost  

The global rating agency Moody’s Investors Service on Monday downgraded India’s rating to BAA3 from Baa2, and its short-term local-currency rating to P-3 from P-2 The global rating agency Moody’s Investors Service on Monday downgraded India’s rating to BAA3 from Baa2, and its short-term local-currency rating to P-3 from P-2. “Moody’s has adowngraded India’s local-currency senior unsecured rating to Baa3 …

Bank shares tank after Moody's changes outlook on Indian banks to negative; RBL, Kotak, IndusInd top losers
4 years, 9 months ago

Bank shares tank after Moody's changes outlook on Indian banks to negative; RBL, Kotak, IndusInd top losers

Firstpost  

Bank shares on Friday dropped up to 15 percent after Moody’s Investors Service changed the outlook for the Indian banking system to negative from stable New Delhi: Bank shares on Friday dropped up to 15 percent after Moody’s Investors Service changed the outlook for the Indian banking system to negative from stable. Shares of RBL Bank tumbled 14.99 percent, Kotak …

Moody's Revises Indian Banking System Outlook To Negative: Here's Why
4 years, 9 months ago

Moody's Revises Indian Banking System Outlook To Negative: Here's Why

ABP News  

New Delhi: Indian banking system has already seen upheavals recently, and Covid 19 outbreak has further proved to be a dent in maintaining a stable outlook. Rating agency Moody’s on Thursday revised its outlook for the Indian banking system to negative from stable, citing an ensuing decline in asset quality and the prevailing Covid 19 outbreak. While funding and liquidity …

COVID-19 impact: Moody’s changes outlook on Indian banks to negative
4 years, 9 months ago

COVID-19 impact: Moody’s changes outlook on Indian banks to negative

The Hindu  

Moody’s Investors Service on Thursday changed the outlook for Indian banking system to negative from stable, as it expects deterioration in banks’ asset quality due to disruption in economic activity from the Coronavirus outbreak. Disruptions to economic activity from the coronavirus outbreak will exacerbate a slowdown in India’s economic growth,” Moody’s said. “Growing solvency stress among non-bank financial institutions will …

Moody’s downgrades Yes Bank’s ratings
4 years, 10 months ago

Moody’s downgrades Yes Bank’s ratings

The Hindu  

Moody’s Investors Service on Friday downgraded Yes Bank Ltd’s rating following the RBI imposing a 30-day moratorium that prevents the lender from making payments to its creditors. “The ratings remain under review, with the direction uncertain,” Moody’s said, downgrading Yes Bank Ltd’s long-term foreign currency issuer rating to Caa3 from B2. “Despite the event of default, the Caa3 rating takes …

Moody's Investors Service, Fitch Ratings give stable outlook to India Infoline Finance Ltd
4 years, 11 months ago

Moody's Investors Service, Fitch Ratings give stable outlook to India Infoline Finance Ltd

Firstpost  

Moody’s Investors Service has assigned a first-time Ba3 corporate family rating to India Infoline Finance Ltd New Delhi: Moody’s Investors Service and Fitch Ratings have given a stable outlook to the credit ratings of India Infoline Finance Ltd, according to a regulatory filing on Tuesday. Moody’s Investors Service has assigned a first-time Ba3 corporate family rating to India Infoline Finance …

Moody’s downgrades Yes Bank’s ratings, assigns negative outlook
5 years, 1 month ago

Moody’s downgrades Yes Bank’s ratings, assigns negative outlook

Live Mint  

Moody's Investors Service on Thursday downgraded Yes Bank Limited's long-term foreign currency issuer rating to B2 from Ba3. The ratings agency has also downgraded the bank's long-term foreign and local currency bank deposit ratings to B2 from Ba3, foreign currency senior unsecured MTN program rating to B2 from Ba3, and Baseline Credit Assessment and Adjusted BCA to b3 from b1. …

Challenges ahead for most Indian non-financial companies in 2020: Moody's
5 years, 1 month ago

Challenges ahead for most Indian non-financial companies in 2020: Moody's

India TV News  

Driven by sluggish economic growth and slowing earnings, credit conditions will weaken for most Indian non-financial companies in 2020, Moody's Investors Service said on Thursday. "Upside factors for Moody's outlook on India’s non-financial companies include a ramp up of government’s stimulus measures aimed at reviving consumption demand, and better funding and market liquidity conditions whereby domestic demand and consumer funding …

Moody's reviews BPCL rating for downgrade on government sell-off
5 years, 1 month ago

Moody's reviews BPCL rating for downgrade on government sell-off

The Quint  

Mumbai, Nov 26 Moody's Investors Service on Tuesday said it has placed state-run Bharat Petroleum Corp Ltd's rating on review for downgrade after the government decided to privatise the country's company. "The review for downgrade follows the government of India's decision to sell its entire 53.29 per cent stake in BPCL and to transfer management control of the company to …

Moody's assigns Baa1 rating to ONGC's proposed senior unsecured notes
5 years, 1 month ago

Moody's assigns Baa1 rating to ONGC's proposed senior unsecured notes

India TV News  

Moody's Investors Service on Wednesday said it has assigned a 'Baa1' rating to the proposed senior unsecured notes to be issued by Oil and Natural Gas Corp under its USD 2 billion medium-term note program. "The notes' rating is in line with ONGC's Baa1 issuer rating, which is in turn primarily driven by its standalone credit profile as captured by …

Shares fall nearly 1% after Moody's cuts outlook to negative
5 years, 2 months ago

Shares fall nearly 1% after Moody's cuts outlook to negative

India Today  

Shares closed down nearly 1 per cent on Friday after Moody's Investors Service flagged domestic growth risks and cut its ratings outlook for the country, as well as some corporate companies and financial institutions. The NSE Nifty 50 index.NSEI closed down 0.86 per cent at 11,908.15, while the benchmark BSE index.BSESN finished 0.84 per cent lower at 40,311.21. The realty …

Moody’s outlook revision may prove costly for banks
5 years, 2 months ago

Moody’s outlook revision may prove costly for banks

Live Mint  

Moody’s Investors Service’s revision of the outlook for key Indian banks and financial institutions from stable to negative on Friday could make it dearer for them to borrow on international markets in the short term, three analysts said. Moody’s on Friday affirmed the ratings, but revised the outlook for six banks and financial institutions—State Bank of India, HDFC Bank, Hero …

Moody’s lowers India’s outlook to ‘negative’ from ‘stable’; cites increased risks to economic growth recovery
5 years, 2 months ago

Moody’s lowers India’s outlook to ‘negative’ from ‘stable’; cites increased risks to economic growth recovery

Firstpost  

If nominal GDP growth does not return to high rates, Moody’s expects that government will face very significant constraints in narrowing general budget deficit and preventing a rise in debt burden Rating agnecy Moody’s Investors Service has changed the outlook on India to negative from stable and affirmed the Baa2 foreign-currency and local currency long-term issuer ratings. Moody's changes India's …

Moody's lowers India's outlook to 'negative' from 'stable', Govt rebuts
5 years, 2 months ago

Moody's lowers India's outlook to 'negative' from 'stable', Govt rebuts

The Hindu  

Moody’s Investors Service, the investor-focussed arm of ratings agency Moody’s, has downgraded its outlook on India to ‘negative’ from ‘stable’. “Moody’s decision to change the outlook to negative reflects increasing risks that economic growth will remain materially lower than in the past, partly reflecting lower government and policy effectiveness at addressing long-standing economic and institutional weaknesses than Moody’s had previously …

Moody's lowers India's outlook to negative from stable
5 years, 2 months ago

Moody's lowers India's outlook to negative from stable

India Today  

Moody's Investors Service on Thursday cut India's ratings outlook to "negative" from "stable", citing increasing risks that growth in Asia's third-largest economy will remain lower than in the past. "India continues to be among the fastest growing major economies in the world, India's relative standing remains unaffected," the finance ministry said in a response to the outlook cut, adding that …

Moody's Downgrades Yes Bank's Long-term Foreign Currency Issuer Rating
5 years, 4 months ago

Moody's Downgrades Yes Bank's Long-term Foreign Currency Issuer Rating

News 18  

New Delhi: Moody's Investors Service on Wednesday said it has downgraded Yes Bank's long-term foreign-currency issuer rating and has kept the outlook at negative. Moody's also downgraded the bank's long-term foreign and local currency bank deposit ratings to Ba3 from Ba1, foreign currency senior unsecured MTN program rating to Ba3 from Ba1, and Baseline Credit Assessment and adjusted BCA to …

Moody's downgrades Yes Bank's long-term foreign currency issuer rating
5 years, 4 months ago

Moody's downgrades Yes Bank's long-term foreign currency issuer rating

India TV News  

Moody's Investors Service on Wednesday said it has downgraded Yes Bank's long-term foreign-currency issuer rating and has kept the outlook at negative. Moody's also downgraded the bank's long-term foreign and local currency bank deposit ratings to Ba3 from Ba1, foreign currency senior unsecured MTN program rating to Ba3 from Ba1, and Baseline Credit Assessment and adjusted BCA to b1 from …

Credit view on India hinges on policies of new govt: Moody’s
5 years, 7 months ago

Credit view on India hinges on policies of new govt: Moody’s

Live Mint  

Moody's Thursday said its credit view on India will depend on policies of the new government and expressed hope that the country would continue with its fiscal consolidation plan. Moody's expects the broad push towards fiscal consolidation to remain, although with greater policy emphasis on supporting low incomes, Foster added. In 2017, the US-based rating agency upped India's rating to …

Moody’s places PFC, REC on ‘review for downgrade’
6 years, 1 month ago

Moody’s places PFC, REC on ‘review for downgrade’

Live Mint  

New Delhi: Moody’s Investors Service on Thursday placed state-run firms REC Ltd and Power Finance Corp. Ltd “on review for downgrade” after the Union government decided to sell its entire stake and transfer management control in REC to PFC. This follows ICRA Ltd placing the long-term rating of AAA for the various debt programmes of REC and PFC “on watch” …

The Moody’s curse on the Indian economy
6 years, 2 months ago

The Moody’s curse on the Indian economy

Live Mint  

Mumbai: Almost a year ago, ratings company Moody’s Investors Service Inc. upgraded India’s sovereign debt rating, making India only the second large emerging market to have improved its rating in the past five years. Even before Moody’s upgrade, India had already succeeded in reining in inflation, current account deficit and fiscal deficit amid low crude oil prices. While Moody’s had …

Airtel under Moody’s lens for ratings downgrade
6 years, 2 months ago

Airtel under Moody’s lens for ratings downgrade

Live Mint  

Mumbai: Bharti Airtel Ltd’s credit rating was placed under review for a possible downgrade by Moody’s Investors Service on high debt levels and weak cash flow generation. “The review for downgrade is primarily driven by our expectation that Bharti’s cash flow generation will remain weak and leverage elevated,” Annalisa DiChiara, vice president and senior credit officer at Moody’s, said in …

Moody's places Bharti Airtel's rating on review for downgrade on lower profitability
6 years, 2 months ago

Moody's places Bharti Airtel's rating on review for downgrade on lower profitability

Firstpost  

New Delhi: Moody’s Investors Service on Thursday placed Bharti Airtel’s rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The review also reflects the company’s low levels of profitability, particularly from its core Indian mobile operations, negative free cash flow and higher debt levels to fund capital spending, it said. “Because we believe …

Discover Related