Fitch Downgrades Steel Authority of India to ‘BB’, Outlook Negative

Newsroom24x7 Staff Singapore: Fitch Ratings has downgraded Steel Authority of India Limited’s (SAIL) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BBB-‘. The Outlook is Negative. The downgrade follows the deterioration in SAIL’s financial profile after a prolonged weakening in international steel prices. SAIL’s debt-funded capex programme has magnified the impact of weak prices.… Read More Fitch Downgrades Steel Authority of India to ‘BB’, Outlook Negative

India Bank Consolidation Positive in the Long Term

Newsroom24x7 Staff Mumbai/Singapore: A consolidated Indian banking structure would be a positive development in the long term for the Indian banking system, says Fitch Ratings. We believe that consolidation coupled with higher capital requirements and governance reforms would position the banking system better in support of a more open and higher-growth economy. The topic of… Read More India Bank Consolidation Positive in the Long Term