The sharp slowdown in India's economic growth exacerbated by coronavirus outbreak will hurt public sector banks' (PSBs) asset quality and drive up credit costs, Moody's Investors Service said in a new report on Friday.

Indian public sector banks face fresh capital shortages, will need Rs 2.1 lakh crore: Moody's

Credit rating agency Moody's has said India's economy will shrink 3.1 per cent this year. The agency had pegged India's growth at 0.2 per cent in April amid the pandemic.

'Geopolitical risks': India's economy to contract 3.1% in 2020, says Moody's

On Monday, the rating agency Moody's downgraded India's ratings from Baa2 to Baa3, citing that the coronavirus pandemic wasn't the primary factor playing into consideration.

Moody's downgrades India's ratings, warns of stress in financial sector

The impact of the coronavirus outbreak will exacerbate the material slowdown in India's economic growth, with the country expected to see 0% expansion in the current fiscal year, analysts at Moody's said on Friday.

India may see 0% GDP growth this fiscal year, says Moody's report

Moody's Investors Service on Wednesday downgraded Delhi International Airport Ltd's (DIAL's) corporate family rating and senior secured ratings to Ba3 from Ba2. At the same time, Moody's downgraded DIAL's baseline credit assessment to Ba3 from Ba2.

Moody's downgrades Delhi Airport's ratings to Ba3, on review for further downgrade

Indian states face difficulties in reducing deficits, challenging the country's ability to meet medium-term fiscal consolidation goals as economic growth slows, Moody's Investors Service said in a new report released on Wednesday.

Indian states face challenges in reducing deficits, constraining government fiscal consolidation: Report

Rating agency Moody's on Thursday slashed its outlook for German banks from "stable" to "negative", warning their profitability and creditworthiness would "decline" in the coming months.

Moody's sees 'negative' outlook for German banks

Credit ratings agency Moody's on Friday downgraded the outlook for Britain's debt, citing mounting policy challenges amid the Brexit debate. The agency cut the outlook to negative from stable but kept the debt at the investment-grade Aa2.

Moody's downgrades Britain debt outlook to negative

Moody's Investors Service on Thursday cut India's ratings outlook to "negative" from "stable", citing increasing risks that growth in Asia's third-largest economy will remain lower than in the past.

Moody's cuts India's outlook to 'negative' on economic growth worries

Moody's Investors Service on Friday took rating action on 11 Indian financial institutions (FIs), eight non-financial corporates and eight sovereign-linked Indian infrastructure companies, a day after it changed the outlook on India's Baa2 sovereign rating to negative from stable.

Moody's takes rating action on 12 Indian FIs, 8 corporates, 8 sovereign-linked infra firms

The government's decision to reduce the base corporate tax rate to 22 per cent from 30 per cent as part of stimulus measures to revive slowing economic growth is credit positive for companies because it will enable them to generate higher post-tax incomes, Moody`s Investors Service said on Saturday.

Corporate tax reduction is credit positive for companies but increases government's fiscal risks: Moody's

The government will find it difficult to meet the fiscal deficit target of 3.4 per cent in 2019-20 on account on higher spending and low revenue growth, Moody's Investors Service said.

Difficult for govt to maintain 3.4% fiscal deficit in FY'20: Moody's

The credit rating agency Moody's Investors Service on Thursday predicted a stable outlook for banks across Asia-Pacific over the next 12 months but warned that operating conditions could become increasingly demanding.

Moody's forecasts stable outlook for Asia-Pacific banks in 2019

'There are some signs that the Indian economy is starting to recover from the soft growth patch attributed to the negative impact of the demonetisation undertaken in 2016 and disruption related to last year?s rollout of the Goods and Service Tax,' said Moody's

India to grow at 7.6% in 2018: Moody's

India needs to step up investment in order to leap ahead of China, Director, Development Prospects Group, World Bank Klose said.

India's 'growth potential' around 7 per cent for next 10 years: World Bank

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

NITI Aayog vice-chairman Rajiv Kumar had said Indian economy during July-September period is likely to grow at 6.2 to 6.3 per cent

India's GDP climbs to 6.3 per cent in Q2, recovers from 3-year low

Last week, Moody's has upgraded India?s sovereign ratings to Baa2 from its lowest investment grade (Baa3) for the first time since 2004

S&P's India ratings remain unchanged, India's economic outlook 'stable'

The upgrade should lead to greater FDI inflow into the country

Moody's upgrades India's sovereign credit rating: What does that mean??

Moody's had last week raised India's sovereign rating for the first time in over 13 years, saying growth prospects have improved with continued progress on economic and institutional reforms

India's budget deficit may rise in FY18, but will improve in years ahead: Moody's

Nifty also rallied climbing to 10,339.15 in opening trade.?

Sensex surges over 400 points after Moody's India upgrade

In downgrading Hong Kong, the agency outlined the growing economic links between the city and Beijing

Moody's slashes Hong Kong rating following China cut

Winning a better credit rating on India's sovereign debt would have been a much-needed endorsement of Prime Minister Narendra Modi's regime

India's Modi government pushed Moody's for better credit rating but failed: Reuters

moodys-1

Moody's, News on Moody's, stories on Moody's, articles on Moody's, Moody's stories at Wion, Moody's news, Moody's latest news

moodys 1