Longest slide in India credit quality since 2014 pressures Modi

By Rahul Satija The financial health of Indian firms is worsening, adding pressure on Prime Minister Narendra Modi to come up with more measures to kick-start a sputtering economy. Debt quality deteriorated for the fourth straight month in August, the Care Ratings Debt Quality Index showed. That’s the longest losing streak for the gauge that … Read moreLongest slide in India credit quality since 2014 pressures Modi

Suzlon scraps $1.2 billion debt repayment offer as Vestas backs out

By Suvashree Ghosh, Baiju Kalesh and P R Sanjai Suzlon Energy withdrew an offer to repay about Rs 8,500 crore ($1.2 billion) to lenders after Vestas Wind Systems A/C, which was backing the proposal, pulled out of the debt-resolution plan, according to people familiar with the matter. The settlement was the only offer before the … Read moreSuzlon scraps $1.2 billion debt repayment offer as Vestas backs out

Land acquisition, infra continue major impediments for timely completion of wind projects: Care

NEW DELHI: Even as the amendments have been made to bidding guidelines for wind projects in India, land acquisition and evacuation infrastructure will continue to remain major impediments for timely completion of such projects, according to a report. Last week, the government made certain amendments to the bidding guidelines for wind projects to fast-track installation … Read moreLand acquisition, infra continue major impediments for timely completion of wind projects: Care

Stocks of credit rating agencies likely to remain under pressure: Analysts

How to clean up the rating mess in India

The role of credit rating agencies has been under the spotlight given the recent liquidity crisis that has hit the finanial sector. While they can remain under pressure in the short-run given these developments, analysts remain optimistic on their long-term prospects. The optimism stems from the new set of guidelines set forth by the market … Read moreStocks of credit rating agencies likely to remain under pressure: Analysts

GDP growth in Q4 likely to moderate to 6.1-5.9%, may lead RBI to cut rates: SBI report

MUMBAI: The country’s economic growth in the fourth quarter ended March 2019 is expected to moderate to 6.1-5.9 per cent, which could pull down growth rate for the entire fiscal 2018-19 to below 7 per cent, according to a report by SBI. The slip in GDP growth may force the Reserve Bank of India to … Read moreGDP growth in Q4 likely to moderate to 6.1-5.9%, may lead RBI to cut rates: SBI report

Reliance Capital protests downgrade, says will cut debt by 50%

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By Pratik Parija and Anurag Joshi Reliance Capital Ltd., Anil Ambani’s financial services company, protested against a three-step downgrade by Care Ratings that put its credit score two notches above junk. Care Ratings cut the firm’s long-term debt program to BBB from A and kept it on credit watch with developing implications, according to statements … Read moreReliance Capital protests downgrade, says will cut debt by 50%

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