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Credit Rating Agency News
Credit rating agency ICRA downgrades long-term rating of Yes Bank; outlook remains negative
Yes Bank’s ability to reduce its BB and below rated exposures through resolution and prevent a further increase in the same, as well as its ability to improve its CET-I capital cushion, were highlighted as key rating sensitivities among others.
Shares in ICRA fall after CEO Naresh Takkar sent on leave amid regulatory concerns
ICRA said in May it had appointed external experts to probe the anonymous complaint concerning the credit rating it assigned to one of its customers
Fitch retains India rating at 'BBB-' with stable outlook; says country's medium-term growth potential is strong
The Fitch review for annual sovereign rating follows India's rating upgrade by Moody's after a gap of 14 years. S&P had retained the earlier rating.
S&P retains BBB- rating: No Christmas gift for Narendra Modi govt, but it doesn’t need to fight with US-rater
The S&P has clearly highlighted the concerns arising out of large fiscal deficits and revenue shortage in Indian economy
Indian auto-backed securities to remain stable: Moody's Investors Service
Moody's said the performance of rated ABS is not expected to deteriorate beyond March 2017
Impose limit on global transactions of cards, RBI tells banks
In order to check frauds, the RBI has asked banks to impose monetary limit for international transactions on credit and debit cards and refrain from issuing cards with global access unless specifically sought by the customer.
Budget 2013: Govt takes steps to improve interaction with rating agencies
Amid concerns of possible downgrade of India's credit rating, the Economic Survey today said the government is taking steps to improve interactions with rating agencies to ensure that they make "informed decisions".
US sues S&P's, alleges it inflated credit ratings
The United States today sued Standard and Poor's alleging that the credit rating agency lied about its objectivity and independence and issued inflated ratings for certain structured debt securities, causing investors to lose billions of dollars.
Naxal operations: IAF unhappy with inadequate security to choppers
In the particular incident, the IAF chopper was thrice given clearance by the CRPF to land at the designated spot.
Fall in rupee won't impact co credit ratings: Fitch
Credit ratings agency Fitch said that the fall in rupee won't affect the credit ratings of Indian companies that are capable of servicing their debt even in severe downturn.
Why Moody's downgraded debt ratings of 28 Spanish banks
Moody's Investors Service is cutting its credit ratings on 28 Spanish banks, saying the weakening financial condition of Spain's government is making it more difficult for that country to support its lenders.
Some global banks more powerful than central banks: Y V Reddy
Former RBI governor Y V Reddy lashed out against rating agencies and accounting firms saying that they enjoy an oligopolistic power over the markets, and said that some large international banks enjoy significant influence over political economy .
Majority of SMEs find it tough to get bank funds: Crisil
After a survey of over 3,000 SMEs on their funding patterns, it has found that 53 percent of them met their funding needs through promoters' funds and personal loans in FY11.
Govt taking steps to improve inflow of foreign investment: FM
The government is taking steps to improve inflow of foreign investment and the impact of the initiatives will become visible after some time, Finance Minister Pranab Mukherjee said today.
Fitch hitch: Economic mirror may be cracked, but it doesn't lie
If our economic policymakers spent half as much time and energy addressing the core problems in the economy, they might not have to worry so much about what rating agencies have to say about it.
See India's GDP growth at 6.2-6.4% in FY13: ICRA
The rating outfit joins a rash of think-tanks, research houses, investment banks and other agencies which have downwardly revised their growth estimates for the country.
S&P not transparent; Indian economy in better shape: FinMin
India's economy is in a much better shape than what is being perceived by the global rating agency Standard and Poor, said the Finance Ministry.
Greece's domestic rating cut at the risk of eurozone exit
In another blowout to the already-battered Greece, rating agency Moody's has lowered its rating for Greece due to the rising risk of the country exiting the eurozone.
Reliance: Even at Rs 684 per share, outlook remains bleak
Shares in India's largest private-sector conglomerate plunged to their lowest since March 2009 on continuing worries over its gas output from the KG-D6 basin
After S&P, Moody's reviews ICICI, Axis, HDFC banks for downgrade
.A downgrade in rating means that the government or companies are less capable to meet their debt obligation