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Fitch affirms India's sovereign rating, retains negative outlook

Last month, another global rating agency Moody's Investors Service had affirmed India's sovereign rating and upgraded the country's outlook to ‘stable’, from ‘negative’.
The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London, Britain. (File Photo / REUTERS)
The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London, Britain. (File Photo / REUTERS)
Published on Nov 16, 2021 09:18 PM IST
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Written by Joydeep Bose | Edited by Avik Roy, Hindustan Times, New Delhi

Capital support for Indian govt banks to determine loan growth: Fitch

The banks have so far managed to avert further pressure on their weak core capitalisation on the back of regulatory forbearance, limited risk underwriting and lower credit growth.
Fitch said it expects a moderately worse operating environment for the Indian banking sector in 2021, anchored to its belief that the banks' prospects for new business and revenue generation are likely to remain muted.(Reuters)
Fitch said it expects a moderately worse operating environment for the Indian banking sector in 2021, anchored to its belief that the banks' prospects for new business and revenue generation are likely to remain muted.(Reuters)
Published on Feb 08, 2021 02:40 PM IST
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ANI | , Mumbai

India's economy poised for recovery supported by Covid-19 vaccine rollout: Fitch

Risks to the growth outlook appear to have eased in recent weeks as vaccine rollouts began in other parts of the world.
India may be projected to grow at 7.5% in 2015-16, outpacing even China, but a slowing rural economy can pose major hurdles in sustaining this turnaround.(Reuters)
India may be projected to grow at 7.5% in 2015-16, outpacing even China, but a slowing rural economy can pose major hurdles in sustaining this turnaround.(Reuters)
Published on Jan 11, 2021 11:37 AM IST
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ANI | , New York

Fitch revises India GDP forecast, sees contraction at 9.4%

Fitch Ratings raised India’s GDP forecast to -9.4 per cent in the current fiscal year to March 2021 from a previously projected contraction of 10.5 per cent.
A motorist drives past a famous bar and restaurant closed due to pandemic in Bengaluru, India. Fitch Ratings raised India’s GDP forecast to -9.4 per cent in the current fiscal year to March 2021 from a previously projected contraction of 10.5 per cent.(AP)
A motorist drives past a famous bar and restaurant closed due to pandemic in Bengaluru, India. Fitch Ratings raised India’s GDP forecast to -9.4 per cent in the current fiscal year to March 2021 from a previously projected contraction of 10.5 per cent.(AP)
Updated on Dec 08, 2020 10:55 AM IST
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New Delhi | ByPress Trust of India| Posted by Mallika Soni

Fitch projects Indian economy to contract 10.5% this fiscal

This comes on the back of India recording one of the sharpest GDP contractions (-23.9%) in the world in April-June.
FILE PHOTO: The offices of Fitch Ratings building appears empty in Canary Wharf, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 27, 2020. REUTERS/Dylan Martinez/File photo
FILE PHOTO: The offices of Fitch Ratings building appears empty in Canary Wharf, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 27, 2020. REUTERS/Dylan Martinez/File photo
Updated on Sep 08, 2020 11:28 AM IST
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New Delhi | ByPress Trust of India | Posted by Karan Manral

Coronavirus impact on GDP of advanced economies will be felt for years to come: Fitch

Fitch said US productive potential growth has been revised to 1.4% from 1.9%, the UK to 0.9% from 1.6% and the eurozone (weighted average of Germany, France, Italy and Spain) to 0.7% from 1.2% .
Nurses wearing protective masks stand inside a temporary facility created to facilitate cancer patients diagnosed with coronavirus disease (Covid-19) in Mumbai.(Reuters Photo)
Nurses wearing protective masks stand inside a temporary facility created to facilitate cancer patients diagnosed with coronavirus disease (Covid-19) in Mumbai.(Reuters Photo)
Updated on Jul 31, 2020 11:51 AM IST
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London | ByAsian News International | Posted by Kanishka Sarkar

Global growth potential tumbles as unemployment spikes, says Fitch

The world economy entered the second half of 2020 still deeply weighed down by the pandemic. The coronavirus recession is expected to still see GDP levels in the largest advanced economies remain around 3% to 4% below their pre-virus trend path by the middle of this decade, Fitch said.
People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, US on June 18, 2020.(Reuters File Photo)
People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, US on June 18, 2020.(Reuters File Photo)
Updated on Jul 28, 2020 10:34 AM IST
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ByBloomberg | Posted by Kanishka Sarkar

Rating agency Fitch cuts India’s outlook to ‘negative’

Fitch expected economic activity to contract by 5 per cent in the fiscal year ending March 2021 (FY21) due to the strict lockdown measures imposed since March 25, before rebounding by 9.5 per cent in FY22.
“The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed the challenges associated with a high public-debt burden. The rebound will mainly be driven by a low-base effect,” Fitch said.(Reuters)
“The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed the challenges associated with a high public-debt burden. The rebound will mainly be driven by a low-base effect,” Fitch said.(Reuters)
Updated on Jun 18, 2020 10:23 AM IST
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New Delhi | ByPress Trust of India | Posted by Prashasti Singh

India Ratings lowers outlook for growth in steel demand by 300 bps to 4%

Raw material availability and price risks may escalate in 4QFY20. Ind-Ra expects overall steel sales volumes and margins to weaken further in the ongoing quarter.
Steel prices have been continuously softening.(AP Photo)
Steel prices have been continuously softening.(AP Photo)
Published on Sep 04, 2019 01:29 PM IST
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livemint, New Delhi | ByStaff Writer

Fitch affirms India’s rating at ‘BBB-’ with stable outlook for 13th year in row

This is the 13th year in a row that global rating agency Fitch has rated India at ‘BBB-’. It had last upgraded India’s sovereign rating from ‘BB+’ to ‘BBB-’ with a stable outlook on August 1, 2006.
Fitch affirms India’s rating at ‘BBB-’ with stable outlook for 13th year in row(Bloomberg)
Fitch affirms India’s rating at ‘BBB-’ with stable outlook for 13th year in row(Bloomberg)
Updated on Apr 04, 2019 05:04 PM IST
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New Delhi | ByPress Trust of India
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