India has exceeded its fiscal deficit target of 3.5 per cent in the current fiscal by a wide margin due to higher spendings to stimulate the economy amid the pandemic.
Indian Railway Finance Corporation has recently updated and upsized its
global medium term note programme, pursuant to which the aggregate principal amount of notes that may be issued under the Programme has been increased from USD 2 billion to
USD 4 billion. The Programme is listed on the Singapore Exchange Securities Trading (SGX)
and the India International Exchange (IFSC) (INX).
Further, in connection with the above mentioned Programme, IRFC, rated Baa3 (Negative) / BBB- (Stable) /
BBB- (Negative) by Moody s / S&P / Fitch, respectively, has mandated BNP PARIBAS, DBS Bank,
HSBC, MUFG, SBICAP and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners to
S & P Global Ratings has said that Indian Railway Finance Corporation s (IRFC s) initial public offering does not alter its view of government support to the company. The government, which has been the sole owner of IRFC since its inception in 1986, holds about 86 per cent shares after the listing. In the IPO exercise, the government sold 5 per cent stake and additional 10 per cent shares were issued to the market. The divestment does not affect our assessment of IRFC s critical link and integral role to the government. The IPO plans were announced as far back as 2017 and we had factored the potential share sale in our ratings on the company since then.
PETALING JAYA: S&P Global Ratings has raised the industry risk for the oil and gas (O&G) companies in the exploration and production (E&P) business to moderately high risk from intermediate risk on the greater shift towards renewable energy.
KUALA LUMPUR: S&P Global Ratings has raised the industry risk for the oil and gas (O&) companies in the exploration and production (E&P) business to moderately high risk from intermediate risk on greater shift towards renewable energy.