Fitch Ratings
Budget FY23 disinvestment target more achievable: Fitch Ratings
In his preliminary comments on India's budget, Jeremy Zook, Director and Primary Sovereign Analyst for India, Fitch Ratings said: "The economic and revenue assumptions underpinning the budget are largely credible and the target for disinvestment is more achievable than in last year's budget. "The government also appears to be following through on its efforts to improve budget transparency by keeping previously off-budget spending on budget."
Fitch Ratings affirms India's sovereign rating at BBB-, outlook negative
The affirmation of the negative outlook on India's Long-Term IDRs reflects concerns over high public debt levels and increasing risk to growth from the recent surge in coronavirus cases.
Fitch Ratings affirms India's sovereign rating at 'BBB-', outlook negative
The affirmation of the negative outlook on India's Long-Term IDRs reflects concerns over high public debt levels and increasing risk to growth from the recent surge in coronavirus cases. "India's rating balances a still strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural factors," Fitch Ratings said.
Bharat Petroleum divestment makes headway, more steps needed: Fitch
Accordingly, BPCL has made headway on a key pre-condition to its divestment and other key milestones over the last six weeks, including the finalisation of terms to purchase Oman Oil Company's 36.6 per cent stake in its Bina refinery in February 2021. Besides, It also sold 5.8 per cent of its 7.3 per cent treasury shares and approved the sale of its 61.7 per cent stake in Numaligarh Refinery in March.
India's banks' recovery faces asset-quality risks: Fitch Ratings
According to Fitch, India's banks reported lower impaired loans and improved profitability for the nine months ended December 2020 due to various forbearance measures and continued large write-offs. In a statement, Fitch said that India's banks - particularly state banks - remained more risk averse than in prior years, which was reflected in their weak credit growth.
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