The US government’s credit rating has been downgraded by the Fitch Ratings from AAA to AA, citing a “steady deterioration in standards of governance," CNN reported on Tuesday.
Fitch Ratings expects India's petroleum product demand in during 2023-24 to grow by a mid-single-digit percentage after a 10 per cent rise the past year.
Fitch Ratings has raised the global growth forecast for 2023 to 2.4 per cent from its March estimate of 2.0 and noted that economic activity the world over is holding up better than as was expected.
Fitch Ratings has raised India's growth forecast for 2023-24 to 6.3 per cent from its earlier estimate of 6.0 per cent in March -- making the country one of the fastest-growing major economies in the world.
The credit ratings agency placed top-ranked US credit on rating watch negative, reflecting the uncertainty surrounding the current debt ceiling debate and the possibility of a first-ever default, CNN Business said.
Fitch Ratings forecasts India's headline inflation to decline, but remain near the upper end of the Reserve Bank of India's 2-6 per cent target band, averaging 5.8 per cent in 2023-24 from 6.7 per cent last year.
The outlook is stable, the statement from Fitch said. The restricted group includes six co-issuers -- Barmer Power Transmission Service Limited, Chhattisgarh-WR Transmission Limited, Hadoti Power Transmission Service Limited, Raipur-Rajnandgaon-Warora Transmission Limited, Sipat Transmission
A sovereign green bond is a debt investment instrument issued by the central or state government to borrow money from investors with the commitment that the mobilized fund will be spent on climate or ecosystem-related activities.
The higher spending, tax cuts and supportive policies announced in India's Budget for 2023-24 are expected to support sustained demand growth and improve the longer-term prospects for corporates.
Fitch Ratings says there is no "immediate impact" on the ratings of the Adani entities and their securities following a recent report by Hindenburg Research.