This year debt instruments of 116 companies were downgraded and 55 firms were upgraded by the credit rating agencies.
Till date, no long term instrument rated AAA by CRISIL has ever defaulted. For instruments rated AA, the average 3-year default rate is less than 1 percent, which means if you hold an instrument rated AA+ or AA or AA- for 3 years, on an average, the incidence of default has been less than 1 percent.
Preference shares depict features of bonds when one looks at risk-return profile.
Urban development minister, M Venkaiah Naidu on February 7, 2017, said that the government‘s â€˜Smart Cities‘ mission, has brought about a paradigm shift, wherein cities approach the challenges differently, rather than doing different things. R
The company's arm, Suzlon Global Services, received a provisional credit rating of 'A-' and a stable outlook from ratings agency CARE.
The global ratings agency has cited weak liquidity position and high refinancing risk as reasons.
Your credit history and credit score used to play a decisive role in determining whether you would get a home loan or not and it would stop there. You would get a home loan, R
S&P Global Ratings today raised its foreign currency long-term corporate credit rating on Vedanta Resources to 'B+' from 'B'with a stable outlook.
Rating agency Crisil today announced the launch of a new credit rating framework for infrastructure projects that would facilitate greater participation from long-term investors and lenders.
The agency expects PFC to maintain its profitability at higher than the broader financial industry. The company's core earnings of about 2.8 percent of average adjusted assets for the past three years were higher than the 0.7 percent for the banking industry in India, the statement said.
S&P Global Ratings today lowered ICICI Bank's standalone credit profile to 'bbb-' from 'bbb' saying the private bank's asset quality will remain under pressure over the next one year.
The deal will help Vedanta reduce its net debt, give access to Cairn's cash balance of about USD 3.5 billion, besides giving auxillary benefits such as improvement of credit rating and capex, says Nitesh Jain of Axis Capital.
The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote last week.
Given the debt servicing troubles of leveraged companies, it is better to keep a track of your portfolio.
S&P Global Ratings on May 30 said it has lowered its long-term issuer credit rating on Syndicate Bank to 'BB+' due to continued pressure on asset quality, given the tough operating conditions for the corporate sector in India
"Downgrades, although having moderated from the highs of 2013-14, saw a small increase in 2015-16," the domestic rating agency said in a report here, but was quick to add that overall credit metrics improved in the just concluded fiscal.
Tata Steel UK Ltd's signing of an agreement to sell its European long products business to UK-based investment firm Greybull Capital is credit positive for its parent, Tata Steel, Moody's Investor Service said today.
"Crisil Ratings has reaffirmed the credit rating and revised outlook for the bank's capital bonds," the bank said in a BSE filing.
In FY16, it upgraded the ratings of 785 issuers as against 533 downgrades, it said, adding that there were 7,371 issuers whose ratings were outstanding at the beginning of the last fiscal.
The Reserve Bank had last month come out with guidelines on PCE, allowing banks to provide PCE to bonds issued for projects.
Rating agency CARE has assigned an investment grade credit rating to the Wind turbine manufacturer's outstanding bank facilities as well as to the proposed commercial paper instrument.
The board is considering cost cuts and measures to generate cash flow, but has not discussed selling off VW assets or brands, they said. One source added that a capital increase would become likely if cash costs of the scandal were to exceed a "critical level".
Swiss-based and London-listed Glencore earlier this month raised USD 2.5 billion through a share placement, part of a wider plan to cut its net debt by a third by the end of 2016.
In a very interesting development that is taking place in infrastructure financing, India Infrastructure Financing Company (IIFCL) along with ADB and a few other partners have successfully issued India's first credit enhanced bond. In an interview to CNBC-TV18, SB Nayar, CMD at IIFCL & Sumant Sinha of Renew Power Ventures spoke about the same.
It was the first Japan downgrade by S&P since January 2011 and came 4-1/2 years after it last lowered its outlook, from stable to negative.