Moody's
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Moody's Upgrades India's 2024 Growth Projection to 6.8 Percent
India's real GDP demonstrated robust expansion, recording a year-over-year growth of 8.4 percent in the fourth quarter of 2023, culminating in a full-year growth of 7.7 percent for the same year.
Akasa Air Secures 300 CFM LEAP-1B Engines for 150 Boeing 737 MAX Fleet Expansion
Akasa Air, which initiated its operations in August 2022, had previously placed orders for a total of 76 LEAP-1B-powered 737-8 aircraft. Notably, 22 of these aircraft are currently in service. Vinay Dube, the Founder and CEO of Akasa Air, expressed confidence in the enduring collaboration, stating, “This significant, long-term agreement is testament to the confidence that CFM International has in Akasa Air. Continuing to partner with CFM as our engine maintenance provider not only reaffirms our focus on operational reliability but equally underscores Akasa Air's relentless pursuit of world-class safety.”
Moody's Shifts China's Bond Outlook to Negative Amid Rising Debt Levels
China has been increasing its borrowing to implement fiscal stimulus measures aiming to uplift a slowing economy.
Moody's Predicts Indian Economy to Steal the Spotlight in 2024-25 amid G20 slowdown
Emerging market countries showcase diverse economic strengths, with India, Brazil, Mexico, and Indonesia surpassing expectations. Conversely, the outlooks for Turkey and Argentina remain highly uncertain, according to the report.
Solar cushion helps India’s green energy firms to offset wind shortfall: Moody’s
Rated issuers have adequate financial headroom in their credit metrics to absorb the moderate project underperformance, the report states.
Akasa Air gets nod for international operations
According to sources, the airline is poised to commence international routes in December, with initial destinations centred around Middle Eastern nations.
Legal action by Akasa Air: Over 40 pilots face lawsuit for abrupt resignations
Consequently, by August this year, Akasa's domestic market share had fallen behind that of the financially challenged SpiceJet, a carrier it had surpassed in June. Akasa is reportedly requesting around Rs 22 crore in compensation for the loss of revenue and damage to its reputation, citing that the 43 pilots in question departed without fulfilling the mandatory notice period.
Moody's raises India's GDP forecast to 6.7% for 2023
"Since the second quarter out performance creates a high base in 2023, we have lowered our 2024 growth forecast from 6.5 percent to 6.1 per cent. Given the robust underlying economic momentum, we also recognise further upside risk to India’s economic growth performance," it said on Friday.
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.
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