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Fitch Ratings News

22 Jun 2023

Fitch Hikes India's GDP Forecast To 6.3% For Current Fiscal

Fitch further said that GDP growth in January-March was higher than expected, saying there has been a recovery in manufacturing after two consecutive quarterly contractions, a boost from construction, and an increase in farm output.

06 Dec 2022

India may emerge fastest growing emerging markets in current fiscal: Fitch

World Bank today said that the Indian government is on track to meet its fiscal deficit target of 6.4% of the GDP for 2022-23. Fitch Ratings retained the economic growth forecast for India at 7% for the current fiscal. World Bank also expressed optimism that India's real GDP would grow at 6.9% in the current fiscal.

10 Jun 2022

Fitch improves India's rating outlook to stable on 'solid' medium-term growth

Fitch Ratings kept the rating unchanged at 'BBB-'. Fitch cut the economic growth forecast to 7.8 per cent for the current fiscal. Indian economy grew 8.7 per cent in the last financial year.

02 Feb 2022

Budget short on structural reform announcements: Fitch Ratings

However, the firm noted that the boost is short on major growth-enhancing structural reform announcements. The planned acceleration in the infrastructure capex drive will likely provide a fillip to near- and medium-term growth if fully implemented.

25 Mar 2021

Fitch revises India GDP growth to 12.8% for FY22

Fiscal year beginning April 1. Previous estimate was 11 percent. Recovery from the depths of the lockdown-induced recession.

11 Jun 2020

Fitch forecasts 9.5% growth for Indian economy in next fiscal, S&P retains sov

In a good news for India, Fitch Ratings said on Wednesday (June 10) that Indian economy would register a sharp growth rate of 9.5 per cent next year if it manages to avoid further deterioration in its financial sector.

10 Jun 2020

Indian economy to grow at 9.5% in next fiscal: Fitch Ratings

Listing positives for India, Fitch Ratings said there was greater confidence in a sustained reduction in general government debt over the medium term to a level closer to the 'BBB' peer median.

India GDP growth

03 Apr 2020

Fitch cuts India growth forecast to 30-year low amid COVID-19 outbreak

Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports.

09 May 2019

Airtel results signal Indian mobile sector rebound: Fitch Ratings

Bharti's ratings headroom is likely to improve with an equity infusion, planned asset sales and growing Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) from Africa, it noted.

12 Dec 2018

Patel's resignation highlights risks to RBI's policy priorities: Fitch

The Government Tuesday appointed former Economic Affairs Secretary Shaktikanta Das as the new Governor.

06 Dec 2018

Fitch slashes India growth forecast to 7.2% on reduced credit availability

Indian economy grew 6.7 percent in 2017-18 fiscal.

28 Sep 2018

BoB-Vijaya-Dena Bank merger plan shows govt's reform push

The boards of each bank will meet to give a go-ahead to the proposed merger.

20 Sep 2018

Fitch revises Tata Motors outlook to negative

It affirmed the long-term issuer default rating of Tata Motors' at 'BB+'.

India's banking sector

13 Aug 2018

Banking sector outlook to stay negative till capital positions improve: Fitch

Fitch said the USD 151-billion stock of bad loans remains a risk for the sector's weak income base.

26 Jun 2018

Fitch rates Bharti Airtel at BBB-; outlook stable

Fitch said, Bharti's IDR reflects its market-leading position in India, solid spectrum portfolio and diversified and integrated operations that are likely to help it withstand intense competition in India's mobile segment.

10 Apr 2018

Fitch downgrades PNB's viability rating to BB-

According to a statement from the credit ratings agency, PNB`s other ratings are unaffected by this downgrade.

26 Feb 2018

Fitch says Indian ABS not affected by PNB fraud

PNB, it says, still remains eligible as an account bank for Indian ABS transactions rated at 'BBB-sf'.

02 Feb 2018

High govt debt burden constrains India's sovereign rating: Fitch

The 2018-19 Union Budget unveiled yesterday contains a number of policy measures with the potential to support economic demand and social well being.

05 Dec 2017

Fitch cuts India's FY18 GDP growth forecast to 6.7%

Fitch, however, expects GDP growth to pick up in the next two years on back of gradual implementation of the structural reform agenda and higher real disposable income.

Reliance Communications

01 Nov 2017

RCom, GCX ratings unaffected by debt restructuring plan: Fitch

The ratings on GCX are driven by its "relatively weak" trading position and its liquidity, it said cautioning that reduction of its cash balance to below USD 40 million could lead to negative rating action.

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