ICRA revises YES Bank’s outlook from ‘positive’ to ‘stable’ on RBI order on Rana Kapoor

ICRA, a part of Moody’s Investors Service, revised its outlook on YES Bank’s borrowings to ‘stable’ from ‘positive’ on the basis of the Reserve Bank of India’s direction last week cutting short the tenure of the company’s CEO Rana Kapoor. “The revision in outlook to stable from positive considers the recent direction from RBI whereby […]

ICRA downgrades Fortis Healthcare for missing loan repayment

Credit rating agency ICRA Ltd downgraded Fortis Healthcare’s outstanding debt obligations of Rs 1,170 cr after the company missed the repayment of a loan. The company’s long term rating for Rs 250 crore non-convertible debenture programme, Rs 105 crore fund-based limits, and Rs 195 crore term loans has been revised from  BBB- to C. It […]

Indian IT sector margins to fall to 21.2% from 23.5% by 2020 – ICRA

Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]

India’s natural gas supply to increase by 60% to about 150 MMSCMD till FY25 – ICRA

The demand for natural gas in India will increase to ~330 MMSCMD by FY 25, while the supply will increase by 60% to around 150 MMSCMD by FY 25, credit rating agency ICRA said. The increase in supply will be due to the likely commencement of GSPC’s Deen Dayal block and ONGC’s KG basin blocks […]

Near normal monsoon to push up Indian GDP growth to 7.4-7.6% in this year -ICRA

Rating agency ICRA said the normalization of monsoon has increased the probability of GDP growth in India rising to 7.4-7.6% this year as well as that of an interest rate cut during the October-December quarter of this year. “Following bouts of unseasonal rainfall in the pre-monsoon period, the surplus monsoon rainfall in June 2015 has […]