Friday, January 28, 2022

Fitch Ratings

Fitch cuts India’s growth forecast to 10pc

Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.

Indian pharma industry sales to log robust growth: Fitch Ratings

The credit rating agency said pharma company sales will grow in FY22 as sales normalise in categories affected by the pandemic in the previous year.

Economic shock from second wave less severe: Fitch Ratings

However, recovery is likely to be delayed as economic activity dropped in April-May, says Fitch

High fiscal deficit to pose challenge: Fitch Ratings

It said India entered the pandemic with little fiscal headroom from a rating perspective.

Deficit targets in India’s Budget are higher: Fitch

The government's prioritisation of fiscal support for the population's health and well-being, and ongoing economic recovery are understandable.

Weak reform implementation could lower India’s growth: Fitch

Fitch ratings said the revival of the reform agenda is among the Indian government's policy responses to the Covid-19 pandemic shock

Adani Ports joint venture to raise $300 million

The notes are expected to be rated Baa3 by Moody's Investors Service, BBB-minus Standard & Poor and BBB-minus by Fitch Ratings.

Pandemic-driven reform agenda can raise India’s medium-term growth, says Fitch

"Nevertheless, there are also downside pressures to growth and it will take time to assess whether the reforms are implemented effectively," the agency said in a statement.

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