Moody`s News

Yes Bank`s asset quality deteriorated in the quarter ended June 2019 with its gross non-performing loan (NPL) ratio rising to 5 per cent from 3.2 per cent at the end of March 2019.

The upgrade to Baa2 from Baa3 lifted Indian stocks, bonds and currency and helped Reliance price its notes at 130 basis points (bps) over U.S. Treasuries on Tuesday, the tightest ever spread for an Indian issue.

Earlier this week, state-run SBI Life Insurance (SBI Life) completed its initial public offer (IPO) issue, while the privately-run ICICI Lombard did the same last week.

Italian 10-year government bond yields fell 4 basis points to 1.88 percent, narrowing the gap over benchmark German equivalents to 164 bps.  

India`s decision to relax foreign direct investment in sectors including defence, aviation, and retail is a positive development for the country`s sovereign ratings, said Moody`s Investors Service on Monday.

Indian public sector banks (PSBs) will require a capital infusion of Rs 1.2 lakh crore by 2020, in view of the heavy losses reflected in their balance sheets in 2015-16, global credit rating agency Moody`s Investors Service said in a report on Friday.

Ratings agency Moody`s downgraded its outlook for Hong Kong on Saturday, citing increasing political riskiness and closer economic ties with China, which is facing a growth slowdown.  

The US territory of Puerto Rico, deep in economic crisis, has defaulted on part of its $73-billion debt by missing a bond payment due on Monday, rating firm Moody`s said.

Meanwhile, Moody`s, which revised India`s "Baa3" sovereign rating outlook to "positive" from "stable" last month, said its outlook reflects a 2-5 year horizon, rather than near-term growth outlook.

International ratings agency Moody`s said Tuesday it had downgraded all ratings for scandal-plagued Brazilian oil giant Petrobras.

India`s sovereign ratings are constrained by persistently high inflation that is weighing on an otherwise promising economic recovery, Moody`s Investors Service said in a release on Thursday.

Moody`s raised troubled Greece`s credit rating by two notches, citing improvements to the government`s finances and its commitment to further gains.

Ratings company Moody`s on Tuesday slashed Puerto Rico`s debt rating by three notches into even deeper junk status after the US territory passed a debt-restructuring law.