
Adani Ports, Adani Transmission at 'higher contagion risk': Fitch
The liquidity position at all Adani Group rated entities or restricted groups would benefit from cash flow generation from January 2023 to March 2024, says Fitch.
The liquidity position at all Adani Group rated entities or restricted groups would benefit from cash flow generation from January 2023 to March 2024, says Fitch.
Adani Ports’ internal cash surplus is sufficient to cover its near-term operations and debt obligations as well as its budgeted capex, says Fitch
Adani Transmission's restricted group credit assessment is not directly affected by the alleged malpractices at Adani group highlighted in Hindenburg report, says Fitch.
Increased write-offs, higher loan growth, and improvement in asset quality have boosted the financial performance of Indian banks, says Fitch.
Fitch expects the Indian banking sector's average NIM to slightly contract by about 10 basis points in FY24 to 3.45%.
The agency says it will be looking at any major changes to Adani group entities’ access to financing or cost of financing on a long-term basis.
India's foreign-exchange reserves to remain robust, says Fitch Ratings.
Indian banks’ net interest margins are expected to widen by 20 bps-30 bps in the near term, based on the assumption that the repo rate will reach 5.9% by December 2022 and 6.15% by the end of 2023.
The outlook of Adani Ports, Adani Green Energy, Adani International Container Terminal, and Adani Transmission have been revised to stable from negative.
The rating also balances India's external resilience from solid foreign-exchange reserve buffers against some lagging structural indicators.