Moody's Ratings (Moody's) on Friday affirmed the Baa3 ratings on three Indian public sector banks -- Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB). The rating agency maintained stable outlooks on the long-term ratings of all three banks.
According to Fitch Ratings, this outcome is expected to maintain broad policy continuity but poses challenges for advancing ambitious reforms due to the coalition dynamics and a weakened mandate.
Fitch Ratings has maintained its assessment of India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, despite the coalition government following the recent election results.
Despite this positive quarter, the overall CAB for FY24 is expected to remain in deficit at 0.6 per cent of GDP, the lowest since FY17, excluding the pandemic-affected FY21.
The United Arab Emirates's improved rating in a global risk index has given the financial services sector a boost, reflecting the country's advancements in combating money laundering and the financing of terrorism.
Backed by healthy demand prospects for the sector, large cement companies are looking to increase their capacity and maintain market share through, organic and inorganic expansions.
Welcoming the revision of India's outlook in S&P Global Ratings from stable to positive, Union Minister Piyush Goyal said it is a rightful recognition of PM Modi's effective management of the economy.
This transfer, coupled with the subsequent government spending, will bolster the central government's fiscal position, enabling potential additional spending or fiscal consolidation.
The upgrade considers AGEL's continued strong operational asset performance and a scale-up in execution, with annual capacity additions projected to increase to 4GW-5GW from the previous 2.5-3.5GW.
S&P Global Ratings on Wednesday revised its rating outlook on India to positive from stable, and added that it expects continuity in economic reforms and fiscal policies regardless of the Lok Sabha election outcome.
Bank credit growth is expected to moderate 200 basis points (100 basis points is equal to 1 percentage point) to 14 per cent this year after an estimated robust growth of 16 per cent last financial year, according to Crisil Ratings.