Tag: Fitch

US-China Trade War Escalation Could Knock 0.4pp Off World GDP by 2020: Fitch Ratings

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 and 2.4% next year, compared with our latest “Global Economic Outlook” baseline forecasts of 2.8%

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Fitch Ratings: RBI Governor resignation highlights risks to policy priorities

Newsroom24x7 Network Hong Kong/Singapore: The resignation of the Reserve Bank of India (RBI) governor on 11 December follows a period of government pressure on the central bank to spur economic growth, and highlights risks to the RBI’s policy priorities, says Fitch Ratings. The RBI’s efforts to address bad loan problems have the potential to improve

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Recap helps weak credit profiles of Indian State Banks

Newsroom24x7 Network Mumbai: The Indian government’s USD32 billion recapitalisation programme should help in part to mitigate the risks that Indian state banks face on account of weak asset quality and poor earnings, says Fitch Ratings. However, unwinding of these risks will take some time, implying that resolution of bad assets and continued high credit costs

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Global house prices will rise, but ideal conditions to end projects Fitch

Newsroom24x7 Network London: National house prices are forecast to rise this year in 19 of 22 markets highlighted by Fitch Ratings in a new report, but growth is expected to slow in most markets and risks are growing as the prospect of gradually rising mortgage rates comes into view this year. “Arrears are at very

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Fitch Revises Adani Transmission’s Outlook to Negative

Newsroom24X7 Network Singapore: Following Adani Transmission Limited’s (ATL) planned acquisition of Reliance Infrastructure Limited’s (RInfra) integrated power generation, transmission, distribution and retail business in Mumbai, Fitch Ratings has revised India-based Adani Transmission Limited’s (ATL) Outlook from table to Negative. Fitch believes the acquisition will not increase the company’s business risk. The addition of retail customers

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GST Should Boost India’s Long-Term Growth Prospects: Fitch

Newsroom24x7 Network Hong Kong/Sydney/Singapore: India’s new Goods and Services Tax (GST) will unify the indirect tax system and remove domestic barriers to trade, which should support productivity gains and GDP growth over the long term, says Fitch Ratings. The GST that came into effect on 1 July is relatively complex, including multiple tax rates for

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Fitch: Indian Loan Waivers are a Risk to Fiscal Consolidation

Newsroom24x7 Network Mumbai/Hong Kong/Singapore: The farm loan-waiver schemes being discussed and rolled out across an increasing number of Indian states could have a significant impact on state government finances, and might undermine efforts to bring down general government debt, says Fitch Ratings. The impact on India’s debt dynamics and capital spending will depend on the

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Modi Government’s reform agenda has brought dynamism back to Indian economy

Newsroom24x7 Desk Hong Kong: Fitch Ratings has affirmed India’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BBB-‘. The issue ratings on India’s senior unsecured foreign and local currency bonds are also affirmed at ‘BBB-‘. The Outlooks on the Long-Term IDRs are Stable. The Country Ceiling is affirmed at ‘BBB-‘ and the Short-Term

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