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Sanctions on Russia may result in impairment losses for Indian energy companies, says Moody's
Business

Sanctions on Russia may result in impairment losses for Indian energy companies, says Moody's

Indian firms have invested $16 billion in Russian assets such as the Sakhalin-1 oil and gas field in the far east

Moody’s lowers India's GDP growth forecast for 2022 from 9.5% to 9.1%
India

Moody’s lowers India's GDP growth forecast for 2022 from 9.5% to 9.1%

High fuel and fertiliser costs will weigh on government finances down the road, potentially limiting its planned capital spending, according to the credit ratings major

Ukraine crisis: Fitch, Moody's downgrade Russia credit rating to 'junk' amid sanctions
World

Ukraine crisis: Fitch, Moody's downgrade Russia credit rating to 'junk' amid sanctions

Sovereign credit rating gives investors insights into the level of risk associated with investing in the debt of a particular country. The ratings agencies have warned that Western sanctions have weakened the Russian economy

Moody's Investors Services raises India's growth forecast to 9.5% from 7% for 2022
Business

Moody's Investors Services raises India's growth forecast to 9.5% from 7% for 2022

With most remaining restrictions now being lifted with the improvement in the COVID-19 situation, India is on its way to normalcy

Strong demand, rising vaccination rate drive positive outlook for Indian corporates: Moody's
Business

Strong demand, rising vaccination rate drive positive outlook for Indian corporates: Moody's

In a report, the rating agency said credit fundamentals are favourable for India's companies on a sustained economic recovery and earnings of rated companies' will rise on strong consumer demand and high commodity prices

Fitch retains India's sovereign rating, says risks to medium-term growth 'narrowing'
Business

Fitch retains India's sovereign rating, says risks to medium-term growth 'narrowing'

Mobility indicators have returned to pre-pandemic levels and high-frequency indicators point to strength in the manufacturing sector, it said

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

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

This follows the upgrade by the US-based rating agency in India's sovereign rating outlook to ''stable'' from ''negative'' on Tuesday

Moody's upgrades India's outlook to stable, cites receding downside risks to economy and financial system
Business

Moody's upgrades India's outlook to stable, cites receding downside risks to economy and financial system

The sovereign rating by Moody's stands at ''Baa3'', which is the lowest investment grade, just a notch above junk status.

Moody’s downgrades Sri Lanka to ‘very high credit risk’ rating; nation asserts ability to meet debt obligations
World

Moody’s downgrades Sri Lanka to ‘very high credit risk’ rating; nation asserts ability to meet debt obligations

The agency said the country would be hard-pressed to secure funding for its external debt service payments amounting to approximately $4 billion annually

India among large emerging market sovereigns to have highest debt burden by 2021, says Moody's
Business

India among large emerging market sovereigns to have highest debt burden by 2021, says Moody's

Despite steps toward the resolution of high non-performing loans, the banking system continues to suffer from weak asset quality, and low loan-loss coverage and capital adequacy, it added

India reports over 30,000 COVID-19 cases in 24 hours for first time; testing measures ensuring early detection, says govt
India

India reports over 30,000 COVID-19 cases in 24 hours for first time; testing measures ensuring early detection, says govt

The Centre said the actual caseload of COVID-19 has remained limited and manageable in India due to proactive containment measures even as nationwide tally rose to 9,68,876 on Thursday

Finance Ministry credits govt, RBI for ‘green shoots of economic revival’ as agriculture, petroleum, electricity indicators pick up
Business

Finance Ministry credits govt, RBI for ‘green shoots of economic revival’ as agriculture, petroleum, electricity indicators pick up

The Finance Ministry cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage

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
Business

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

Moody's Investors Service has downgraded India's sovereign credit rating for the first time in more than two decades,

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

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

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

Reliance Industries selling 17% stake in Jio Platforms in one month to help pare half its net debt: Moody's
Business

Reliance Industries selling 17% stake in Jio Platforms in one month to help pare half its net debt: Moody's

Reliance Industries selling over 17 percent stake in its digital unit Jio Platforms for a combined Rs 78,562 crore in one month will help pare about half of its net debt of Rs 1.61 lakh crore, Moody's Investors Service said on Friday

Indian economy to contract in FY21; lockdown compounds economic challenges, says Moody's
Business

Indian economy to contract in FY21; lockdown compounds economic challenges, says Moody's

Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity

Coronavirus Outbreak: Stimulus package for financial sector to ease asset risks, but won't fully offset pandemic blow, says Moody's
Business

Coronavirus Outbreak: Stimulus package for financial sector to ease asset risks, but won't fully offset pandemic blow, says Moody's

Moody's Investors Service on Tuesday said the measures announced by the government for financial institutions as part of Rs 20 lakh crore-economic package will help ease their asset risk, but will not fully offset the negative impact from the COVID-19 outbreak

Moody's cuts outlook for Indian power sector due to coronavirus-induced stress
Business

Moody's cuts outlook for Indian power sector due to coronavirus-induced stress

Moody's Investors Service on Friday cut its outlook for the Indian power sector to negative as it expects power demand to drop at least four to five percent in fiscal 2021 due to slowing activity and policy actions amid coronavirus-induced pressure

Automakers warn of up to 45% sales drop as economy slumps due to pandemic; seek govt help in crisis
Business

Automakers warn of up to 45% sales drop as economy slumps due to pandemic; seek govt help in crisis

The auto industry is already reeling, with sales of cars, SUVs, trucks and motorbikes falling 18 percent last fiscal year to 21.5 million vehicles due to an economic slowdown.

Indian economy may contract 0.4% in FY21 on coronavirus pandemic, says two foreign brokerages
Business

Indian economy may contract 0.4% in FY21 on coronavirus pandemic, says two foreign brokerages

Two foreign brokerages on Friday predicted a contraction of 0.4 percent of India's GDP in the current financial year due to the impact of the COVID-19 pandemic