FINWIRES · TerminalLIVE
FINWIRES

Fitch Affirms India at 'BBB-' With Stable Outlook

By

Fitch Ratings affirmed India's long-term issuer default ratings at 'BBB-' with a stable outlook, according to a Tuesday rating action commentary.

India's rating is supported by its robust growth outlook and solid external finances, while still-weak fiscal metrics, including high deficits, debt, and debt-servicing costs, constrain the rating, the statement said.

The ratings agency forecasts India's economy to grow 6.4% in the fiscal year ending March 2027, down from an average of 7.4% over the previous three years.

It expects inflation to average 4.1% in the fiscal year ending March 2027, compared with 2.1% in the previous fiscal year.

Fitch forecasts the general government deficit to narrow to 7.3% of GDP in the fiscal year ending March 2027 from 7.5% in the previous fiscal year.

Meanwhile, government debt is expected to decline gradually to about 79% of GDP by the fiscal year ending March 2031, from 84.4% in the fiscal year ended March 2026.

Related Articles

Asia

Xingyun Technology Denies Reports of Computing Power Card Import Detention by Customs

Xingyun Technology (SHE:300209) denied media reports that Customs detained its computing power cards, according to a Wednesday filing with the Shenzhen bourse.The cross-border e-commerce and software development company said its imports are compliant with Chinese customs law and its business processes are complete.Customs did not delay any of the company's imports, adding that they are being delivered normally according to plan, the company said in the filing.Shares rose 2% during the midday break on Wednesday.

SHE:300209
Asia

AGL Energy's Fiscal 2027 Dividends to Ahead of Expectations, Jefferies Says

AGL Energy's (ASX:AGL) fiscal 2027 guidance is below market expectations, and its net profit after tax (NPAT) drives dividends, which will be higher in fiscal 2027 relative to expectations, Jefferies said in a note on Wednesday.Its fiscal 2027 guidance range for earnings before interest, taxes, depreciation, and amortization (EBITDA) is between AU$1.9 billion and AU$2.2 billion, and its NPAT guidance is between AU$470 million and AU$670 million.The guidance assumes stable consumer margins, a full-year Liddell Battery contribution and the remaining cost-out benefits, which will be offset by lower wholesale electricity prices rolling through contracted positions and higher gas costs as legacy contracts expire.Expectations for AGL's fiscal 2027 guidance had been reduced since the result for the first half of fiscal 2026, with consensus EBITDA down 4.7% and consensus NPAT down 9.5%.The investment firm maintained its buy rating on AGL Energy with a price target of AU$11.21 per share.

ASX:AGL
Asia

CSBC Corporation Gets Work Stoppage Notice for Keelung Plant

CSBC Corporation (TPE:2208) has received a work stoppage notice from the Occupational Safety and Health Administration of the Ministry of Labor, Taiwan, following an incident at Keelung shipyard that caused the death of a worker, according to a Tuesday filing to the Taiwan stock exchange.In compliance with the order, work has been suspended for improvement purposes starting on Aug. 3 at the company's Keelung plant, where aerial work platforms are used for ship repair and painting operations, and related areas.According to a preliminary assessment, there's no significant impact on the company's finances and operations, the company said.

TPE:2208