Moody's has assigned the stable Ba3 rating to the senior secured USD notes issued by Neerg Energy Ltd to the senior secured notes issued by Neerg Energy.
Rating agencies had gone into a downgrading overdrive in December, the month after the government decided to do away with 86 percent of the currency in circulation.
Steel prices in India have recovered from the lows observed during 2015-2016, following various measures by the government to curb imports, and the positive momentum across global steel markets since April 2016.
The rating agency also expressed concern over the budgeting of lesser capital -- Rs 10,000 crore -- for infusion into public sector banks in 2017-18, which it said is a "credit negative".
Global ratings agency Moody’s Investors Service has downgraded the corporate family rating of Mumbai-based realty firm Lodha Developers Pvt Ltd (LDPL) to B2 from B1, citing reasons of weak liquidity position and high refinancing R
Days ahead of the Budget, Moody's today said its positive outlook on India reflects expectations of continued policy reforms reducing government debt even as it feels that the high debt level limits room to cut fiscal deficit quickly.
The increase in green bond issuances reflect strong China-based issuances and momentum from the Paris Climate agreement, Moody's Investors Service said.
Moody's projects the aggregate operating margin of rated airlines to approach 9 per cent in 2017 and about 8 per cent in 2018, from a projected 10.8 per cent in 2016.
Moody's has assigned a Baa3 rating to SBI's proposed dollar denominated senior unsecured notes, issued under its USD 10 billion Medium-Term Note (MTN) program.
The credit rating agency expects the government to renew its commitment to increase capital spending and address the short-term disruptive impact of demonetisation in the Budget to be unveiled on February 1, 2017.
Weak asset quality will continue to plague credit profile of banks, with their profitability remaining under pressure till the next fiscal, says a report.
"Strong GDP growth, capacity additions and stabilising commodity prices will support EBITDA growth of 6-12 per cent over the next 12-18 months," Moody's Corporate Finance Group Managing Director Laura Acres said.
India criticised Moody's ratings methods and pushed aggressively for an upgrade, documents reviewed by Reuters show, but the U.S.-based agency declined to budge citing concerns over the country's debt levels and fragile banks.
Credit Suisse says it remained cautious on the cement space as commentary from cement companies turned more negative.
The global oil and gas industry will continue to be plagued by the weight of high debt levels next year despite the Opec offer to lower production from January, which has helped the industry rebound modestly from its 2016 trough, says a report.
In addition, the government's debt restructuring of the financially weak distribution utilities through UDAY scheme will likely improve their financial capacity to make timely payments to power generators, it said.
India is the "only area of strength" in the subdued Asian steel market aided by rising demand and government measures to curb imports like MIP and anti-dumping duties, Moody's Investor Service said today.
Speaking to CNBC-TV18 Kaustubh Chaubal of Moody's said that there is no change in ratings of Tata group companies but should any new facts emerge, then they would review them.
Without naming the global biggies - S&P, Fitch and Moody's - which dominate the sovereign rating business, Mathur said the top three global agencies control 90 percent of the market and make the issuer pay for the rating rather than the investor which may lead to concerns over possible conflicts of interest.
Telecom major Bharti Airtel's debt will increase by USD 2 billion (over Rs 13,300 crore) due to the recent spectrum purchase but cash flows from operations and monetisation activities are likely to reduce this level in next 6-12 months, Moody's Investors Service said today.
The credit rating agency said it is changing the outlook for the global automotive manufacturing industry to negative from stable on account of weakening global demand.
"The rating downgrade reflects the continued growth in Gail's cyclical business segments, which have a much higher business risk than its core gas transmission business," Moody's Senior Analyst Abhishek Tyagi said in a note.
Moody's has assigned Ba1 rating to Tata Motors, up from the earlier Ba2, the rating agency said in a statement today.
Calling the reform process slow and gradual with muted private investment and bad loans posing a challenge, Moody's said on Tuesday it could upgrade India's rating in 1-2 years if it is convinced that reforms are "tangible".
At a meeting with Economic Affairs Secretary Shaktikanta Das and other officials of the ministry, representatives from Moody's are learnt to have said that a rating upgrade could be a reality when the benefits of reforms could be felt on the ground and the country's banking sector stabilises.