Stay updated with breaking news from Bbb rating. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Fitch expects India s sovereign rating to remain unchanged despite the government s efforts for fiscal consolidation. The general government debt is projected to stay above 80% of GDP over the next five years, with a deficit reduction target of 4.5% by FY26. Fitch s forecast indicates a deficit ratio of 5.1% in FY25, and GDP growth of 6.5%. The government s focus on capex investment is expected to support the growth outlook in FY25, with a planned expenditure of Rs 11.11 lakh crore, representing a 16.9% increase from FY24 s revised estimates. ....
Indicating a stable outlook, Fitch ratings upgraded Tata Steel s rating to ‘BBB-’ from ‘BB+’.The improvement has come in the wake of easing UK risk ....
"We maintain ONGC s Standalone Credit Profile (SCP) at bbb+ , which reflects ONGC s scale as the largest oil and gas (O&G) producer in India, its significant reserves and production, and its vertically integrated and geographically diversified business model." The SCP also considers Fitch s expectations that ONGC s credit metrics will improve over the financial years ending March 2024 (FY24) to FY27. ....
The Hindenburg report had alleged ‘brazen stock manipulation and accounting fraud’ and use of offshore shell companies to inflate stock prices. The group has denied all Hindenburg allegations, calling them ‘malicious’, ‘baseless’ and a ‘calculated attack on India’. ....
The agency has also affirmed ‘BBB-’ rating on ONGC’s US dollar senior unsecured notes, the foreign-currency guaranteed notes issued by its subsidiary OVL ....