Fitch

  • Infrastructure, construction sector growth may remain stressed in FY15 6 days ago

    Mumbai: Growth of infrastructure and construction as well as metals and mining sectors is likely to remain stressed in FY15 as high leverage levels may constrain the ability of some corporates to access credit, India Ratings and Research, a Fitch Group company, said in a report on Tuesday. Sectors such an...
  • Defeat of Congress may lead to higher fiscal deficit: Fitch December 10, 2013

    Global rating agency Fitch on Tuesday expressed fear that the defeat of Congress in four of the five state Assembly elections could lead to higher fiscal deficit target as the government would be constrained to curb expenditure. "The setback faced by the Congress Party in state elections could potentially raise political...
  • Fitch revises India's outlook to stable from negative June 12, 2013

    New Delhi: Bringing cheer to the government struggling to arrest rupee's slide, global rating agency Fitch on Wednesday revised India's sovereign credit outlook to stable from negative. Taking note of the government's efforts to contain fiscal deficit, Fitch Ratings revised India's Outlook to Stable from Negative and affirmed 'BBB' rating. "The...
  • Rupee recovers from record low; up 60 paise as Fitch revises outlook June 12, 2013

    Mumbai: Raing agency Fitch has revised India's rating from negative to stable. Fitch has said that fiscal deficit targets will be met, which will strengthen the rupee. The rupee on Wednesday gained 60 paise to close at 57.79 against the dollar after Fitch revised India's credit outlook. Also, heavy dollar...
  • Abercrombie & Fitch CEO doesn't want XL or XXL people shopping in his store October 3, 2013

    New Delhi: Mike Jeffries, the eccentric CEO of the US clothing retailer Abercrombie & Fitch has done it again. Vocally against large sized men and women, Jeffries has been quoted as saying in news reports that he doesn't want "larger people shopping in his store" triggering a social media backlash. Robin...
  • Finance Ministry pitches for ratings upgrade with Fitch April 12, 2013

    New Delhi: The Finance Ministry on Friday made a strong case for rating upgrade of Indian economy by global agency Fitch on the back of increasing investments, declining import of gold and government's commitment to fiscal prudence. The issue of rating upgrade was raised by Finance Ministry officials at a meeting...
  • There is a case for rating upgrade, says Finance Ministry March 17, 2013

    New Delhi: The Finance Ministry feels there is a case for a rating upgrade of India by at least a notch or so and agencies like Standard & Poor's and Fitch would be conveyed this view when they visit India next month. "I strongly believe there is a case for...
  • Sony at greater risk than Panasonic in electronics downturn: Fitch November 23, 2012

    Tokyo:<>/b Panasonic Corp has a better chance than rival Sony Corp of surviving Japan's consumer electronics slump because of its unglamorous but stable appliance business of washing machines and fridges, credit rating agency Fitch said Friday. Fitch cut Panasonic's rating by two notches to BB and Sony three notches to BB...
  • Fitch's growth revision proves government inaction: BJP September 28, 2012

    BJP spokesperson Nirmala Sitharam on Friday said that the downward revision of growth forecast by Fitch is a reflection of the government's inaction. Fitch Ratings on Friday cut its 2012 growth forecasts for India to 6 per cent from 6.5 per cent on deteriorating global growth outlook with diminished willingness or...
  • Fitch cuts India growth forecast to 6 per cent September 28, 2012

    New Delhi: Fitch Ratings has cut its 2012 growth forecasts for India to 6 percent from 6.5 per cent on deteriorating global growth outlook with diminished willingness or capacity to respond with domestic policy loosening, compared with 2009. India's economic outlook remains challenging. Investment rose just 0.7 per cent YoY in...
  • India reforms credit positive: Fitch September 18, 2012

    India's reforms announced last week at first glance appear credit positive. But there is still considerable execution risk given the Congressled coalition's divisions and recent track record of policy reversals, says Fitch Ratings. Broader concerns regarding the weak and inconsistent regulatory framework remain. These concerns will remain material for economic performance ahead...
  • Indian infra sector outlook remains negative: Fitch July 17, 2012

    Mumbai: Ratings agency Fitch has said the Indian infrastructure industry faces a negative outlook on account of increase in macroeconomic challenges and sectorspecific stresses. In its recent report titled '2012 MidYear Outlook: Indian Infrastructure', Fitch Ratings said, "Fitch expects the ratings of project companies to remain...
  • Fitch revises Indian FIs' rating to negative June 20, 2012

    New York: Fitch Ratings has revised the Outlook on the 'BBB' LongTerm (LT) Foreign Currency (FC) Issuer Default Rating (IDR) of Indiabased financial institutions to Negative from Stable, while affirming the rating. These include six government banks (including an international banking subsidiary of a government bank), two private banks, two wholly...
  • Pranab says Fitch ignored positive economic trends June 19, 2012

    New Delhi: Finance Minister Pranab Mukherjee said on Monday Fitch has not taken note of recent structural reforms in the economy including the strengthening of public finances, after the rating agency cut its outlook on Asia's third largest economy. "The concerns expressed by Fitch on the economic growth potential, inflationary pressures,...
  • News 360: Kalam opts out of the Presidential elections June 18, 2012

    APJ Abdul Kalam on Monday issued a statement saying he will not contest the Presidential elections. ...
  • Fitch action based on older data, says Pranab June 18, 2012

    New Delhi: Finance Minister Pranab Mukherjee on Monday rejected Fitch downgrade of India's credit outlook to negative saying the rating agency's action was based on "older data" as it ignored recent positive trends. "While the markets had already anticipated that Fitch would revise the outlook and so there is no surprise...
  • Fitch revises India's outlook to negative June 18, 2012

    New Delhi: Fitch Ratings has revised India's outlook to negative from stable. Its LongTerm Foreign and LocalCurrency Issuer Default Ratings (IDRs) have been affirmed at 'BBB' and ShortTerm Foreign Currency at 'F3'. India's Country Ceiling is also affirmed at 'BBB'. The Outlook revision reflects heightened risks that India's medium to longterm...
  • India pitches for Fitch upgrade after S&P blow May 17, 2012

    New Delhi: India's economic growth story is intact and the current account deficit under control, senior Finance Ministry officials told a team from global ratings agency Fitch on Thursday, weeks after S&P cut its outlook for Asia's third largest economy. The visit came as the Indian rupee tumbled to a record...
  • Fitch cuts Italy, Spain, other euro zone ratings January 28, 2012

    New York: Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1in2 chance of further cuts in the next two years. In a statement, the ratings agency said the affected countries were vulnerable in the nearterm to monetary and financial shocks. "Consequently,...
  • Fitch downgrades Hungary to junk status January 7, 2012

    Budapest: Fitch Ratings downgraded Hungary's credit grade to junk status on Friday, citing a standoff between the country and the European Union and the International Monetary Fund over rescue loans. Fitch, which followed similar moves from Moody's and S&P, kept a negative outlook, indicating a more than a 50 per...
  • Rising coal costs to hit India power projects: Fitch December 21, 2011

    Mumbai: The rising cost of imported coal, coupled with a weakening rupee, could force some Indian power projects to default on their debt obligations, ratings agency Fitch said on Tuesday. Fitch estimated that the average cost of generation could rise to 4.41 rupees (8 cents) per kilowatt hour for projects relying...
  • Fitch warns may downgrade 6 euro zone nations December 17, 2011

    New York: Fitch Ratings on Friday warned it may downgrade Belgium, Italy, and four other euro zone countries in the absence of a "comprehensive solution" to the region's debt crisis. The ratings agency placed the ratings of Belgium, Spain, Slovenia, Italy, Ireland and Cyprus in credit watch negative, which means a...
  • Fitch warns of US downgrade if no budget deal November 29, 2011

    New York: Fitch Ratings gave the United States until 2013 to come up with a "credible plan" to tackle its ballooning budget deficit or risk a downgrade of the country's coveted AAA rating. The ratings agency on Monday revised to negative from stable the outlook on the US credit rating after...
  • US rating likely to be downgraded again: Merrill October 24, 2011

    New York: The United States will likely suffer the loss of its tripleA credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts. The trigger would be a likely failure by Congress to agree on a...
  • Fitch downgrades Italian, Spanish debt ratings October 8, 2011

    Rome: The Fitch agency downgraded its sovereign credit rating for Italy and Spain on Friday and said its longterm outlook for both countries was negative, citing high debt and poor prospects for growth. Separately, Fitch also said it was keeping Portugal's debt rating on watch for a possible downgrade, with...
  • This stinks: Company sues Beyonce over fragrance September 17, 2009

    New York: The singer Beyonce Knowles has been sued by Abercrombie & Fitch Co over her intent to use its Fierce trademark on a fragrance to be launched in early 2010. In a federal lawsuit filed on Tuesday in Columbus, Ohio, Abercrombie said Knowles' plan "poses a likelihood of confusion" for...
  • Tata Steel ranked world's best producer by Fitch August 6, 2007

    New Delhi: India’s biggest conglomerate Tata Group just got another feather to its hat. Global rating agency Fitch has assigned the highest rating of 'F1+(ind)' to Tata Steel's Rs 500 crore short-term debt programme. The rating with stable outlook reflects the company's position as an efficient value added steel producer, with...
  • Vodafone deal not really 'cheap' February 15, 2007

    New Delhi: Was Vodafone's $11.1 billion acquisition of the Hutch stake at Hutch-Essar an economical deal? Not really, says global rating agency Fitch. The agency on Wednesday said the deal has not come at a cheap price to UK's mobile giant. "The acquisition is not cheap (for Vodafone) on valuation basis,"...