DEBT RATING – RTN asia

Moody’s downgrades IDBI Bank over lower govt support

2017-08-302017-08-30 | Sanjay Kumar

Moody’s Investors Service has downgraded debt issued by IDBI Bank over concerns on “reduction in the amount of extraordinary government support incorporated into the bank’s ratings and its weak standalone credit profile,” the bank said. While earlier, Moody’s used to assume that government support for IDBI Bank was at the top-end of the ‘very high’ […]

Fitch Downgrades Essar Group’s construction arm

2014-06-26 | Deepti Rajan

Ratings provider Fitch has downgraded the debt of Essar Projects Ltd, the holding company of the various construction companies of Essar Group, to ‘B-‘ from ‘B’. The primary reason is a wind-down of construction activity within Essar Group, which is largely into the energy business. “Essar Project’s order book shrank to USD3.5bn in FY13 from […]