Page 2 Fitch: Latest News and Updates, Top Stories, Videos, Photos About Fitch

Fitch Cuts India GDP Forecast For FY22 To 8.4 Per Cent

Fitch Ratings on Wednesday cut India's economic growth forecast to 8.4 per cent for the current fiscal year ending March 31, 2022, but raised GDP growth projection for the next financial year to 10.3 per cent. Fitch had in October ...

Fitch, S&P Flag India's High Fiscal Deficit, Slow Consolidation

On Tuesday, rating agencies flagged India's higher-than-expected fiscal deficit figures and a gradual pace in consolidation. Wider fiscal deficits and a more gradual pace of consolidation will lift the Indian government's debt and pressure its sovereign ratings, Fitch Ratings said, cautioning ...

India's GDP To Remain Well Below Pre-Pandemic Levels: FITCH

The coronavirus-induced recession in India has been one of the most severe among major emerging markets (EMs) amid a stringent lockdown and limited direct fiscal support, FITCH Ratings has stated in its latest report. "Growth will be supported by ...

Fitch Estimates Indian Economy To Contract By 10.5 Percent In FY21

Fitch for the ongoing fiscal year 2020-21 hit by the pandemic has lowered its GDP forecast with economic growth expected to contract by 10.5% as against 5% earlier for the same period. This is even when the rating agency has marginally ...

Fitch Revises India's Outlook to Negative, Affirms IDR at 'BBB-

Fitch Ratings has revised the Outlook on India's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the rating at 'BBB-'. The revision of the Outlook to Negative on India's Long-Term IDRs reflects the following key rating drivers, ...

Fitch Ratings Downgrades ICICI Bank’s, Axis Bank’s Viability Ratings

Fitch has downgraded the viability ratings of ICICI Bank and Axis Bank. The agency has downgraded the bank's Viability Rating (VR) by one notch to 'bb' from 'bb+'. The rating actions come amid rapid deterioration in the operating environment for ...

Fitch Revises India's Growth Forecast To 0.8%, Moody's To 0.2%

Due to the Covid 19 outbreak and the subsequent lockdown to contain its spread, global ratings firm Fitch said weaker growth puts India's sovereign rating of BBB- in threat. Also, the agency sharply cut its growth forecast for the ongoing financial ...

Fitch Solutions Cuts India’s FY20 Economic Growth Forecast To 4.9%

On Monday, Fitch Solutions lowered India's economic growth forecast to 4.9 percent for the current financial year citing possible pressure on manufacturing due to weak domestic demand and supply chain disruptions amid coronavirus outbreak. For the upcoming fiscal year 2020-21, it ...

Fitch Revises India’s Fiscal Deficit Forecast To 3.6% Of GDP For 2019-20

On Wednesday, Fitch Solutions raised the fiscal deficit forecast for India to 3.6 percent of the GDP (Gross Domestic Product) of the current financial year 2019-20. It was earlier projected at 3.4 percent of the GDP. It said that the ...

Fitch Cuts India’s GDP Growth Forecast For FY20 To 5.5%

On Thursday, Fitch Ratings slashed India's GDP growth forecast to 5.5 percent for the current financial year 2019-20 on account of a large credit squeeze emanating from shadow banks that dragged the country's economic growth to a six-year low. Earlier, ...

Fitch Lowers India Growth Forecast For FY20 To 6.6%

On weaker progress in the manufacturing and agricultural sector over the past year, the global agency Fitch cut India's growth projection for the FY 2019-20 to 6.6% as against the earlier estimate of 6.8%. Further, for Fy 21 and Fy 22, ...

Petrol And Diesel To Get Expensive As OMCs Seen To Recover Losses: Fitch

Even as global crude oil prices are on the rally this week, oil marketing companies in India revised the price of fuel higher only on Thursday after a respite for four continuous days. This is owing to the pressure from the ...

Fitch News