Aided by strong demand recovery, credit ratio rebounds to 1.33 in H2FY21, from 0.54 in H1FY21. GDP could grow at 11% in FY22, but the resurgence in Covid-19 cases is a key downside risk, says CRISIL.
Lucknow Municipal Corporation’s ₹200 crore bond, listed on BSE, has seen an oversubscription of 4.5 times and joins 8 Indian cities, together raising an aggregate of ₹3,690 crore.
The credit rating agency points out that the pandemic will continue to be a spoilsport for the NBFCs it reviewed as funding remains a challenge in the current market.
Facebook’s $5.7-billion investment in RIL’s subsidiary will help both companies monetise their digital platforms; it will also aid in deleveraging RIL’s balance sheet, says Fitch Ratings.
Ratings agency CRISIL pegs India’s GDP growth at 3.5% for FY21; says the number of downgrades will outnumber upgrades, as companies suffer from lack of revenues.
The government’s partial credit guarantee on asset purchases does not address investors’ long-term concerns about the sector’s exposure to stressed real estate: Fitch Ratings.
Sensex, Nifty hover near lifetime highs after the inauguration of the new Cabinet, but close lower after realising that the new government has old challenges to tide over.