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Moody’s upgrades India’s sovereign rating after 14 years

US credit rating agency Moody’s on Friday upgraded India’s sovereign rating to Baa2 from its lowest investment grade of Baa, while changing the outlook for the country’s rating to stable from positive, and said its was based on the Indian government’s “wide-ranging programme of economic and institutional reforms”. The rating agency simultaneously upgraded India’s local and

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NPL resolution to be long drawn process, says Moody’s

Global credit rating agency Moody’s Investors Service on Tuesday said Indian public sector banks will first use their operating profits to increase the loan loss coverage before marking down their non-performing loans (NPLs). In its latest report on the measures taken by the government and Reserve Bank of India (RBI) to resolve the NPL issue,

Moody’s retains India GDP forecast, ups China’s estimates

New Delhi: Moody’s Investors Service today retained India’s growth forecast at 7.5 per cent for 2016 but revised upwards estimates for China to 6.6 per cent citing strong fiscal and monetary support. In its latest assessment of the global economy, Moody’s Investors Service said the outlook for emerging markets economies has stabilised but outlined the

New regulations will transform India’s finance market: Moody’s

Chennai: Global credit rating agency Moody’s Investors Service on Monday said the three recent regulatory changes made by India will have transformative implications for its structured finance market. “The changes will improve returns to investors, promote foreign investment, and improve the resolution process in the event of default, thereby strengthening creditor rights,” Vincent Tordo, an

SBI associate banks merger to cost ,`1,660 crore: Moody’s

Mumbai: The merger of five associate banks and newly created Bharatiya Mahila Bank with SBI will cost $250 million (around Rs 1,660 crore) and have limited impact on the lender’s credit metrics, ratings agency Moody’s Investors Service said on Friday. Earlier this week, country’s biggest lender State Bank of India had proposed merger of five