Ratings of Adani group entities under continuous surveillance: CRISIL

The rating agency CRISIL, the Indian arm of Standard and Poor’s (S&P), today said that it keeps all outstanding ratings, including that of Adani group entities under continuous surveillance. Any adverse regulatory or government action in the wake of the research report, emerging issues around corporate governance will be key monitorable, CRISIL said in a … Read more

India Ratings maintains stable rating outlook for NBFCs in FY23

India Ratings and Research on Friday maintained a neutral sector outlook and a stable rating outlook for non-banking finance companies (NBFCs) in FY23. It believes that FY23, in absence of any negative event, would see normalization of business activities, after facing challenges in the past few years following the default by Infrastructure Leasing and Financial … Read more

ICRA continues to see management changes

Surprises continue at ICRA – N Sivaraman, MD & CEO, who had joined ICRA just a year back in July 2020, has resigned with immediate effect citing personal reasons. He had joined ICRA from IL&FS, where he was Chief Operating Officer with responsibilities for asset monetisation, creditor engagement and loan restructuring. It’s worth noting here that … Read more

Moody’s downgrades India rating to lowest investment grade

Moody’s downgrades India’s sovereign rating to ‘Baa3’ from ‘Baa2’ with negative outlook. This is one shot away from non investment grade – though it’s unlikely that would happen. It’s also reasonable to expect that in all likelihood, S&P will follow soon. They are currently one step higher at BBB- with stable outlook. Mostly, they would … Read more