State Bank of India, the country’s largest bank, said Moody’s Analytics will train its employees to source, appraise and monitor loans. SBI employees will be granted the Moody’s Analytics Certificate in Commercial Credit (CICC) as part of the program. The program has been adapted to the India’s banking sector with the help of former SBI […]
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’ […]
Anil Ambani-led Reliance Communications said it disagrees with the decision of agencies Moody’s and Fitch to downgrade the company’s credit rating based on its ‘standstill agreement’ with its lenders. Shares of RCom fell 4% to Rs 19.30 on the National Stock Exchange today as a result of the ratings action yesterday. “We respectfully disagree with […]
Amid the slightly cautious atmosphere regarding a revival in Indian corporate earnings, Moody’s Investor Service has come out saying that it expects things to get better. It said most non-financial corporates it rates in India will benefit from strong domestic growth and accommodative monetary policy (lower interest rateas), although weak global growth and a potential […]
The Indian government’s poor financial condition is the weakest aspect of India’s credit profile, international ratings agency Moody’s has said, adding that state-owned banks’ poor assets are another area of concern. On the other hand, strong private savings and growth are positive aspects to the Indian economy, Moody’s added. “Government finances are the weakest aspect […]
Moody’s Analytics economist Glenn Levine said there is little on the horizon that could lift India’s growth rate in 2014, pointing out that the government seems to be more focused on cash handouts ahead of the impending elections rather than investment. Levine said, however, that there is a chance of better governance, “especially if the business-friendly […]
