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Fitch

Fitch affirms US AAA rating but outlook still negative

 Fitch affirms US AAA rating but outlook still negative. Global credit rating agency Fitch on June 28, 2013 affirmed the United States’ top level credit rating at AAA but held the outlook at negative, saying still-elevated debt levels leave the country vulnerable to shocks without more deficit reduction. The affirmation reflects strong economic and credit […] Continue reading →

Fitch upgrades State Bank of India, ICICI Bank, Axis Bank, 7 others to ‘Stable’

 Fitch upgrades State Bank of India, ICICI Bank, Axis Bank, 7 others to ‘Stable’. Global credit rating agency Fitch has upgraded the outlook on India’s 10 financial institutions – six Government banks, two private banks and two wholly-owned Government institutions – to ‘Stable’ from ‘Negative’. The revision in the outlook was for State Bank of […] Continue reading →

Fitch lowers India’s growth forecast to 6%

 Global rating agency Fitch has scaled down India’s growth to 6 from earlier 6.5 per cent. This revision has been done along with China. The agency in its Global Economic Outlook report said: “Both regional giants face a deteriorating global growth outlook with diminished willingness or capacity to respond with domestic policy loosening, compared with […] Continue reading →

Fitch lowers rating outlook of SBI, ICICI, PNB, BoB

 Global agency Fitch downgrades rating outlook to negative from stable of 11 financial entities including SBI, ICICI Bank, PNB and Axis Bank. Fitch’s action follows the revision earlier this week of India’s outlook to negative. The list of downgraded entities include six government banks, two private banks. These include Bank of Baroda, Bank of Baroda […] Continue reading →

Fitch downgrades India’s outlook from stable to negative

 Fitch Ratings downgraded India’s credit outlook from stable to negative on Monday, saying that the country’s growth potential will deteriorate without a quickening of structural reforms. The latest blow to India’s economy follows a similar downgrade by Standard & Poor’s in April, with both agencies maintaining India’s rating at BBB- but raising concerns over flagging […] Continue reading →