Mumbai/Singapore: Subdued demand conditions that led to weak performance by Indian automakers in the first quarter of the financial year ending 31 March 2020 (FY20) will likely persist, adding to the challenges from the implementation of stricter emission norms under… Read More ›
Newsroom24x7 Network The imposition by the US of 25% tariffs on the remaining USD300 billion of imports from China would reduce world economic output by 0.4pp in 2020, Fitch Ratings says. Global GDP growth would slow to 2.7% this year… Read More ›
Newsroom24x7 Network Mumbai: Fitch Ratings has downgraded ICICI Bank Limited’s Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-‘ and its Viability Rating to ‘bb+’ from ‘bbb-‘. The Outlook on the IDR is Stable. Fitch has also affirmed ICICI’s Support… Read More ›
Newsroom24x7 Network Singapore/Mumbai: The financial profiles of India’s three oil-marketing companies (OMCs) – Bharat Petroleum Corporation Limited (BPCL; BBB-/Stable), Indian Oil Corporation Ltd (IOC; BBB-/Stable) and Hindustan Petroleum Corporation Limited (HPCL; BBB-/Stable) – may weaken modestly as gross refining margins… Read More ›
Newsroom24x7 Network Mumbai: Fitch maintains a negative sector outlook on Indian banks, to reflect the ongoing struggle of state banks with weak core capitalisation amid rising macro headwinds and poor profitability. Indian banks need significantly more capital than that the… Read More ›
Newsroom24x7 Network Hong Kong/Singapore/Mumbai: Indian Rupee has depreciated by around 9% against the US dollar since the start of 2018, making it the worst-performing major currency in Asia, according to Fitch. Fitch today released it’s analysis vis-a-vis the performance of… Read More ›
Newsroom24x7 Network Hong Kong/Singapore: Rising fuel prices could strain India’s commercial vehicle operators and lead to a rise in auto-loan delinquencies, says Fitch Ratings. That said, the upbeat economic outlook suggests operators may find it easier to pass increased costs… Read More ›
Newsroom24x7 Network Singapore: Fitch Ratings has placed Punjab National Bank’s (PNB) Viability Rating of ‘bb’ on Rating Watch Negative (RWN), following the large fraud reported by PNB. Fitch will resolve the Rating Watch once more clarity emerges on the extent… Read More ›
