Fitch Affirms India's Sovereign Rating On Robust Growth Outlook
The agency has kept kept India's credit rating unchanged at 'BBB-' -- the lowest investment grade rating -- since August 2006.
May 09, 2023, 15:56 PM IST
Economic activity down in April, May but shock less severe than 2020: Fitch
India is facing the world's worst outbreak of COVID-19 cases with more than 3 lakh new daily COVID-19 cases being reported for two weeks now and the new cases reached more than 4 lakh new daily cases over the weekend.
May 10, 2021, 13:55 PM IST
COVID-19 resurgence bringing renewed challenges for India; GDP growth seen at 9.5%: Fitch
The sudden and steep surge in the number of coronavirus cases the highest-ever 4,12,262 new infections and a record 3,980 daily death toll in a day has swamped the health system, which seemed to have collapsed.
May 06, 2021, 14:19 PM IST
Indian economy to contract 10.5% in FY21 from -5% estimated earlier: Fitch
In the first quarter of current fiscal India's gross domestic product (GDP) contracted by a massive 23.9 per cent.
Sep 08, 2020, 14:02 PM IST
Fitch revises outlook of SBI, 8 other banks to negative
The rating agency revised the outlook for Export-Import Bank of India (EXIM), SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings.
Jun 22, 2020, 13:16 PM IST
Fitch revises India's outlook to negative from stable, affirms IDR at BBB-
Moody's earlier this month downgraded India's sovereign rating by a notch to lowest investment grade of 'Baa2' for the first time in 22 years.
Jun 18, 2020, 10:23 AM IST
FPI flows into India to remain under pressure over near-to-medium term: Ind-Ra
The Ratings agency said that despite the accommodative global monetary policy stance and the central government’s efforts to alleviate uncertainty regarding the higher surcharge headwinds to FPI flows into India will continue.
Sep 05, 2019, 12:50 PM IST
Merger of 10 Public Sector banks, governance reforms may improve performance of PSBs: Ind-Ra
The rating agency said that though the proposed amalgamations may face hiccups in short term, the governance reforms are a step in the right direction to improve the overall functioning of PSBs.
Sep 04, 2019, 14:35 PM IST
Jio's FTTH to expand broadband market, will help Airtel: Fitch
In its 42nd annual general meeting on Monday, Reliance Industries Ltd (RIL) announced the launch of its much-awaited Jio GigaFiber services. The Jio GigaFiber base plans will start at 100 Mbps, and can go up to 1 Gbps, with prices ranging from Rs 700 to Rs 10,000 depending on usage.
Aug 13, 2019, 16:01 PM IST
Budget advances economic reform, fiscal settings unchanged: Fitch
Fitch said that the extent and timing of any benefits from the budget measures to GDP growth will depend on policy details that are yet to be announced and on effective implementation.
Jul 10, 2019, 15:14 PM IST
Fitch Affirms Bharti Airtel at 'BBB-' with stable outlook
For stable outlook, it said that it expects recovery in Bharti Airtel's Indian mobile segment and continued growth in Africa and the enterprise segment.
Jun 21, 2019, 10:38 AM IST
Fitch cuts India growth forecast to 6.6% for 2019-20 fiscal
In its latest Global Economic Outlook, the global rating agency retained its GDP growth forecast for the next fiscal (2020-21) at 7.1 percent and 7.0 percent for 2021-22.
Jun 17, 2019, 17:58 PM IST
Fitch downgrade ICICI Bank, Axis Bank rating by a notch
Fitch said it took the rating action after lowering its midpoint for India's operating environment to 'bb+' from 'bbb-' following a review of the banking sector's performance, particularly in the last three years, the regulatory framework for the sector, and the outlook in the near term.
Jun 04, 2019, 10:25 AM IST
Fitch affirms long-term ratings of six banks at 'BBB-' with stable outlook
The agency also affirmed BBB- rating of Bank of Baroda (New Zealand), Canara Bank and Bank of India (BOI).
May 31, 2019, 11:00 AM IST
Fitch affirms India's rating at 'BBB-' with stable outlook for 13th year in row
This is the 13th year in a row that global rating agency Fitch has rated India at 'BBB-'. It had last upgraded India's sovereign rating from 'BB+' to 'BBB-' with a stable outlook on August 1, 2006.
Apr 04, 2019, 17:20 PM IST
Fitch cuts India growth forecast for FY20 to 6.8% on weak momentum
In its latest Global Economic Outlook, Fitch also slashed GDP growth forecast for current fiscal ending March 2019 to 6.9 percent from 7.2 percent projected in the December edition.
Mar 22, 2019, 12:27 PM IST
Fitch affirms PNB's Issuer Default Rating
Fitch said it expects credit costs to remain elevated, with ageing provisions adding to the burden.
Nov 28, 2018, 12:44 PM IST
Fitch revises Tata Motors outlook to negative
It affirmed the long-term issuer default rating of Tata Motors' at 'BB+'.
Sep 20, 2018, 18:26 PM IST
Fitch downgrades JLR outlook to negative; affirms BB+ ratings
The agency cited a likely increase in JLR's negative cash flow in the next two years due to the falling profitability and the risks from Brexit as it sells around 20 percent of its volumes in the EU markets.
Sep 14, 2018, 17:24 PM IST
Fitch lowers Axis' outlook to -ve,cuts ICICI's support ratings
The report also warns that adverse findings may create a "reputational risk", especially if they point at broader weaknesses in management.
Jun 15, 2018, 18:09 PM IST
