In November last year, Moody's had forecast India's economy to expand 7.9 per cent in the 2022-23 fiscal beginning Aptil 1. As per official estimates, Indian economy is estimated to grow at 9.2 per cent in the current fiscal ending March 31.
The sovereign rating by Moody's stands at 'Baa3' -- which is the lowest investment grade, just a notch above junk status.
Moody's Investors Service on Tuesday said the economic activity in India is picking up with the gradual easing of COVID restrictions and there could be further upside to growth as economies around the world gradually reopen.
IndiaEs inflation trend is uncomfortably high which will restrict the Reserve Bank's ability to offer further rate cuts, Moody's Analytics said.
Last week, banking sector regulator Reserve Bank of India (RBI) had asked the bank to temporarily stop all launches under its digital 2.0 initiative and stop sourcing new credit card customers.
Conditions will improve for Indian corporates next year as economic activity picks up steam post-lockdown and earnings grow on the back of widespread demand revival across sectors, Moody's Investors Service said on Wednesday.
In its 2021 outlook for rated Indian non-financial corporates, Moody's cited earnings growth on the back of widespread demand revival across sectors as the reason for giving a 'stable outlook' for Indian corporates in 2021.
Moody's Investors Service on Thursday revised upwards its GDP forecasts for India to (-) 8.9 per cent contraction in the 2020 calendar year, as the economy reflates after a long and strict nationwide lockdown but said the recovery is patchy.
Moody's Investors Service on Thursday said the amendments to India''s bank resolution framework are credit positive as they will help preserve depositor confidence.
Moody's Investors Service on Tuesday said the measures announced by the government for financial institutions as part of Rs 20 lakh crore-economic package will help ease their asset risk, but will not fully offset the negative impact from the COVID-19 outbreak.
Moody's Investors Service on Friday said it estimates India's GDP growth to hit ‘zero' in FY21 and pointed to a wide fiscal deficit, high government debt, weak social and physical infrastructure and a fragile financial sector.
Moody's Investors Service on Tuesday slashed India growth forecast for the calendar year 2020 to 0.2 percent, from 2.5 percent projected in March. For 2021, Moody's expects India's growth to rebound to 6.2 percent.
The Reserve Bank of India's (RBI) measures to help facilitate funds to the NBFC sector is unlikely to boost the credit flow to the broader economy as NBFCs would shore up their own liquidity rather than on-lending to customers, Moody's Investors Service said on Sunday.
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent and said the coronavirus pandemic will cause unprecedented shock to the global economy.
Moody's Investors Service on Monday cut its growth forecast for India to 5.3 per cent for 2020 from 5.4 per cent estimated earlier, as it expects the coronavirus outbreak to dampen domestic demand globally.
The Reserve Bank on India's moratorium and withdrawal cap on Yes Bank is credit negative, and the lack of coordinated action action highlights continued uncertainty around bank resolutions, Moody's Investors Service said on Friday.
ONGC's ratings may experience downward pressure if the sovereign rating is downgraded, ONGC increases its pace of acquisitions such that it results in higher business risk and a deterioration in its credit metrics, or oil prices decline on a sustained basis resulting in weak cash flow generation and a deterioration in ONGC's credit metrics, Moody's said.
Moody's assigned a Ba3 rating to the proposed senior unsecured notes to be issued by Tata Motors. The rating outlook is negative, Moody's said in a statement.
The antagonistic political environment is weakening global and national institutions, lowering the shock-absorption capacity of sovereigns with high debt burdens and low fiscal buffers, it said.
The ministry said the government has undertaken series of financial sector and other reforms to strengthen the economy as a whole.
Top News
Latest News
