The result of that bidding process is likely to be known within the next few months. A successful bid is likely to further increase TSL's leverage over the medium term, Fitch added.

Bhushan acquisition likely to raise Tata Steel's leverage: Fitch

'BBB-' rating indicates lowest investment grade.

India's medium-term growth potential is strong: Fitch

PNB is likely to get an additional Rs 5,400 crore from the government by end-March 2018 under the government's recapitalisation agenda

Fitch, Moody's place Punjab National Bank on downgrade review

The Manila-based ADB said India will growth at a lower rate of 6.7 per cent in 2017 from previous estimate of 7.0 per cent

India's growth set to be higher than China in 2018: Asian Development Bank

Fitch, however, expects GDP growth to pick up in the next two years on back of gradual implementation of the structural reform agenda and higher real disposable income

Fitch cuts India's FY18 GDP growth forecast to 6.7 per cent

While China did not offer any debt relief, the foreign ministry's issued a statement saying China's cooperation with Venezuela in all areas was "proceeding normally"

Venezuela signs debt restructuring deal with Russia, gets China backing

The capital needs of more than two dozen lenders that are majority owned by the state make up about 80 per cent of the system total

Indian banks need $90 billion to meet Basel III rules: Fitch

Standard & Poor's removed Britain's coveted AAA status, downgrading it by two notches with a long-term negative outlook

Ratings agencies downgrade UK after Brexit vote

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