Moody's rating News

India is facing a growing water shortage as water consumption increases amid rapid economic growth and increasingly frequent natural disasters due to climate change, Moody's said in a report on environmental risk facing India.

Moody's rates 16 banks in India, 15 commercial and one policy bank.

The ratings agency has also affirmed the 'corporate family rating' and the company's senior unsecured instruments ratings at Ba2, which is considered to be speculative grade and subject to substantial credit risk.

The bank overall has a Baa2 rating with a stable outlook now from Moody's.

Citing reforms and steps taken towards ease of doing business, the Finance Ministry today pitched for a rating upgrade with Moody's, while the US-based agency expressed concern over the state of bad loans in the banking sector.

Moody's Investors Service has changed the outlook of Reliance Communications (RCom) to negative from stable as there are persistent delays in the company's sale of non-core assets.

Last week, Moody's Analytics had said Prime Minister Narendra Modi must keep BJP members in check or risk "losing domestic and global credibility".

Bank stocks Thursday surged by up to 6 percent, after Moody's raised India's credit rating outlook to 'positive'.

Credit rating agency Moody's Thursday revised upwards the outlook to positive, from stable, for 12 state-owned banks and financial institutions including SBI, PNB, Canara Bank, REC and PFC.