US stocks sink as Moody's warns it could cut credit ratings of 6 big banks
The credit ratings agency said that its warning on the three banks reflected "ongoing strain" in the US banking sector, including increased pressures on funding and potential "weaknesses" in the amount of capital lenders are required to hold, CNN reported.
Business route taken by India's renewable IPPs will reflect their credit quality: Moody's
Of the eight rated Indian IPPs, the three leading producers by installed capacity -- Greenko Energy Holdings (GEH), Renew Power Private Limited (RPPL) and Adani Green Energy Limited (AGEL) -- each have installed generation capacity of over five gigawatts, which had grown via greenfield development and acquisitions, the report notes.
Finance Ministry officials meet Moody's executives, seek upgraded rating
The Finance Ministry officials were led by Chief Economic Advisor V. Anantha Nageswaran. Sources said that India has asked Moody's executives as to how "Indonesia had a higher rating than India?" Moody's has retained its sovereign rating for India at the lowest investment grade of 'Baa3' with a 'stable' outlook.
Moody's warns of 'highly uncertain' funding prospects for Pakistan
The credit rating company, in an issuer comment report, said: "Whether Pakistan will join another IMF programme may only become clear after elections, which are due by October 2023. Negotiations for any future IMF programme would also take some time, even if they succeed."
Chances of Pakistan securing IMF bailout are 'dimming': Moody's
"There are increasing risks that Pakistan may be unable to complete the IMF programme that expires at the end of June," a sovereign analyst with the rating company in Singapore Grace Lim said. Lim said: "Without an IMF programme, Pakistan could default, given its very weak reserves."
Multiple factors gives nuke power major push in APAC region: Moody's
"Decarbonisation and fuel diversification will drive the nuclear power sector's share of the energy mix in Asia Pacific," said Ada Li, a Moody's Vice President, and Senior Credit Officer. "Recent disruptions, such as a spike in fuel fossil prices because of the Russia-Ukraine war, and less stable solar and wind performance due to climate conditions, also underpin a greater role for nuclear power in the region's long-term carbon transition plans," added Li.
SME loan delinquencies to increase for Indian finance companies: Moody's
According to Moody's, though the RBI has paused its rate hike cycle in April, the hikes effected over the past year have increased funding costs for non-banking finance companies (NBFCs). As their funding costs have risen, NBFCs have increased interest rates for loans against property (LAP) to small and medium-size enterprise borrowers, which is heightening repayment and refinancing risks for these loans.