India’s second Covid-19 wave to impact infrastructure sectors, says Moody’s
NEW DELHI: India’s second coronavirus wave will affect its infrastructure sectors to varying degrees with power companies and ports better able to weather the impact of pandemic-induced disruptions compared with airports and toll roads, according to a new report by Moody’s Investors Service. Any further regional lockdowns will increase uncertainty over India’s economic recovery, said […]
Most economies won’t return to pre-Covid-19 activity levels by 2022: Moody’s
NEW DELHI: Moody’s Investors Service on Thursday said the credit downturn arising out of COVID-19 will be short-lived but most economies will not return to pre-pandemic activity levels until 2022. In the year since the World Health Organisation (WHO) declared COVID-19 a pandemic on March 11, 2020, the virus has disrupted the global economy and triggered […]
Moody’s revises India’s FY21 GDP contraction to (-)10.6%
NEW DELHI: Moody’s Investor Service on Thursday revised the contraction rate of India’s FY21 GDP to (-) 10.6 per cent from an earlier estimate of (-) 11.5 per cent. The revision comes days after the Centre announced new stimulus measures. Besides, Moody’s revised the forecast for the next financial year ending March 2022. It now […]
Sustainable bond issuance hits record high in Q3: Moody’s
NEW DELHI:Global issuance of green, social and sustainability bonds – or sustainable bonds, collectively – totalled a record $127.3 billion in the third quarter of 2020, a 30 per cent increase over the previous high set last quarter, Moody’s Investors Service said on Monday in a report. “Global sustainable finance volumes will approach $425 billion […]
Moody’s revises India’s FY21 GDP contraction to 11.5%
NEW DELHI: Moody’s Investor Service on Friday enhanced the contraction rate of India’s FY21 GDP to (-)11.5 per cent from an earlier estimate of (-)4 per cent. The revision comes days after India reported a massive 23.9 per cent contraction in the first quarter GDP of the current fiscal. Consequently, Moody’s revised the forecast for […]
Global revenue from rough diamond sales to drop 30-40% this year amid COVID crisis: Moody”s
NEW DELHI: Moody”s Investors Service on Thursday forecast the global revenue from rough diamonds to fall by 30-40 per cent this year following the lockdown imposed by the governments around the world to contain the COVID-19 pandemic. Rough diamond sales volume and prices will fall in 2020 as a result of the near shutdown of […]
Moody’s downgrades India’s rating to ‘Baa3’
NEW DELHI: Moody’s Investors Service on Monday downgraded India’s sovereign rating to ‘Baa3’ from ‘Baa2’, saying there will be challenges in implementation of policies to mitigate risks of a sustained period of low growth and deteriorating fiscal position. “Moody’s has today downgraded the Government of India’s foreign-currency and local-currency long-term issuer ratings to Baa3 from […]
India may see 0% GDP growth this fiscal year: Moody’s
MUMBAI: The impact of the coronavirus outbreak will exacerbate the material slowdown in India’s economic growth, with the country expected to see 0% expansion in the current fiscal year, analysts at Moody’s said on Friday. The ratings agency said it expected India to see no growth in financial year 2021 and bounce back to a […]
Corporate tax cut positive, but growth faces headwinds: Moody’s
NEW DELHI: Moody’s Investors Service on Saturday said the cut in corporate tax increases the Narendra Modi government’s fiscal risks while headwinds from cyclical factors such as rural stress, weak corporate sentiment and slow credit pose threats to near-term growth. On Friday, the Centre announced a reduction in the base corporate tax rate to 22 […]
Truck operators revenue could be hit as economy slows down: Moody’s
NEW DELHI: The ongoing economic growth slowdown may hurt trucking fleet operators’ revenues and ability to repay loans, global ratings agency Moody’s Investors Service warned on Thursday. The losses to asset-backed securities (ABS) will also rise as the economy slows, it said. GDP growth slipped to a six-year low of 5 per cent for the […]
Moody’s downgrades Tata Motors with negative outlook on JLR worries
NEW DELHI: Global rating agency Moody’s Investors Service on Thursday downgraded Tata Motors’ credit rating by a notch on the floundering performance of its British subsidiary Jaguar Land Rover. The corporate family rating and the company’s senior unsecured instruments rating have also been downgraded to “Ba3” from “Ba2”, with a negative outlook. “The downgrades reflect […]
India’s economic growth to slow to 7.3 per cent in 2019: Moody’s
NEW DELHI: Indian economy will expand 7.4 per cent in 2018, but the growth will slow down to 7.3 per cent in the next year as domestic demand tapers on higher borrowing cost due to rising interest rates, Moody’s Investors Service said on Thursday. In its report titled Global Macro Outlook 2019-20′, Moody’s said the […]
IT firms’ buybacks hamper their future business investment: Moody’s
NEW DELHI: Share buybacks by information technology (IT) firms in the country impede their ability to invest for their future business needs, global ratings agency Moody’s Investors Service said Wednesday. It can be noted that the last few years have seen a high number of share buybacks from the country’s cash-rich IT companies. “High levels […]