No immediate impact on credit ratings of Adani Group: Fitch Ratings
The rated businesses are separately listed (directly or effectively), operate in utility or infrastructure businesses, and with relatively stable cash flow.
The rated businesses are separately listed (directly or effectively), operate in utility or infrastructure businesses, and with relatively stable cash flow.
Notably, Indian telecom operators continue to have one of the lowest monthly average revenue per user (USD 2.5) and the highest monthly data usage (20 GB) in the world.
Indian power generators in general and renewable companies, in particular, will benefit from the counterparty shift to commercial and industrial (C&I) customers from weak state-owned distribution companies, said Fitch Ratings.
In its latest report, Fitch Ratings said India's external buffers appear sufficient to cushion risks associated with the rapid monetary policy tightening in the US and high global commodity prices.
RBI too earlier this month cut India's growth forecast to 9.5 per cent for this fiscal, from 10.5 per cent estimated earlier.
The recent increase in Asian spot LNG prices to above USD 3 per MMBTU should limit the extent of the losses, but a potentially slower demand recovery post lockdown is likely to keep the margin in the red.
Fitch said India's auto demand continues to face several challenges, while it forecasts overall industry volume to decline over 20 per cent.
SBI is 57.9 per cent state-owned and has a much broader policy role than peers.
Fitch said its forecasts are subject to considerable risks due to the continued acceleration in the number of new COVID-19 cases as the lockdown is eased gradually.
India on March 25 instituted the world's largest lockdown to combat the novel coronavirus, halting almost all economic activities.