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The Latest Breaking News from Fitch Ratings

Fitch sees higher earnings ahead for banks

Fitch Ratings expects higher earnings in the Thai banking sector, in line with the country's economic recovery, with loan-loss reserves in the industry having peaked.

Bangkok Post

Fitch Upgrades Oman Rating to BB

Global rating agency Fitch Ratings upgraded the long-term foreign currency issuer default rating on Oman to BB from BB-. The outlook on Oman is stable, Fitch said on Monday. The agency said the upgrade "reflects significant improvements in Oman's fiscal metrics, a lessening of external financing pressures and ongoing efforts…

Asharq Al-Awsat

High Interest Rates to Boost Profitability of Saudi Banks

Fitch Ratings predicted that higher oil prices and interest rates will enhance the profitability of Saudi banks during 2022-2023. This comes at a time when the loan-to-deposit ratio of Saudi banks is at its highest level in 15 years. Fitch said that a 200bp increase in interest rates would boost…

Asharq Al-Awsat

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Canopy Growth - Cointreau Trademark Battle Ends, Fitch Ratings Downgrades Canopy Stock

Last year, the French alcohol maker Remy Cointreau (OTC: REMYY) sued Canopy Growth Corporation (NASDAQ: CGC) for alleged trademark infringement over its CBD-infused sparkling water brand Quatreau.

Benzinga

Fitch keeps Thai credit rating BBB+

Fitch Ratings has affirmed Thailand's credit rating at "BBB+" with a stable outlook, which is acceptable to the government, says government spokesman Thanakorn Wangboonkongchana.

Bangkok Post

Thai economy to grow 3% this year, 3.7% next year - state agency

Thailand's economy is expected to grow by 3% this year and 3.7% next year, driven by exports, increased domestic demand and a recovery in tourism, the state planning agency said on Wednesday.

Bangkok Post

Fitch upgrades India outlook to stable from negative

Pares 2022-23 growth to 7.8%, expects inflation to average 6.9%

The Hindu

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Fitch Ratings Warns of Elections’ Impact on Lebanese Economy

A leading international credit ratings agency warned Friday that the results of this month’s parliamentary elections in Lebanon make it difficult for any coalition to have a governing majority, potentially complicating implementation of reforms. Shortly after the warning from Fitch Ratings, the Lebanese pound briefly hit new lows against the…

Asharq Al-Awsat

Fitch Ratings warns of elections' impact on Lebanese economy

A leading international credit ratings agency has warned that the results of this month’s parliamentary elections in Lebanon make it difficult for any coalition to have a governing majority, potentially complicating implementation of reforms

The Independent UK

Axing Disney World’s Reedy Creek could hurt Florida government finances, analysts say

ORLANDO, Fla. — Dissolving the Reedy Creek district could hurt Florida government finances and potentially strengthen The Walt Disney Co.’s balance sheet at taxpayers’ expense if leaders don’t solve a complex set of legal problems, according to industry analysts following the showdown.

Orlando Sentinel

Demand for workers continues to strengthen

The National Skills Commission says job advertisements on the internet rose by a further 3.6 per cent in February.

AAP

Live updates: Fitch downgrades Russia's credit rating

Fitch Ratings has downgraded Russia’s credit rating, citing a “severe shock” to fundamental conditions due to its invasion of Ukraine

The Independent UK

Fuel demand boosts oil marketing companies' petroleum product sales: Fitch Ratings

NEW DELHI: Transportation fuel demand shows signs of improving to pre-pandemic levels from FY23 as visible from petroleum product sales for the OMCs (oil marketing companies) which increased between 8 per cent-11 per cent during the nine months ended December of fiscal 2021-22 from a year earlier as demand rebounded…

The Times of India

Higher deficit, lack of clarity on fiscal consolidation add risks to lowering debt: Report

NEW DELHI: Fitch Ratings on Monday said higher fiscal deficits and lack of clarity on consolidation plans in the Budget add risks to its projection of lowering of India's debt-to-gross domestic product (GDP) ratio.

The Times of India

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Benzinga

EVs To Drive Growth In China Auto Market This Year, Says Rating Agency Fitch

Rating agency Fitch said on Tuesday it expects electric vehicles to remain a key growth driver in China’s car market. What Happened: Fitch Ratings said EV volumes in China could reach 20% of the total share this year, up from 15.5% in 2021.

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