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The Latest Breaking News from Fitch Ratings

Türkiye Earthquake Could Cost $4b in Economic Losses

Fitch Ratings said insurable economic losses following the quakes (in Türkiye) could exceed $4 billion. "Economic losses are hard to estimate as the situation is evolving, but they appear likely to exceed" $2 billion and could reach $4 billion "or more," Fitch Ratings said. Insured losses will be much lower,…

Asharq Al-Awsat

Fitch: Egyptian Banks’ Capital Ratios Can Withstand Further EGP Depreciation

Fitch Ratings lauded the agreement between the Egyptian government and the International Monetary Fund (IMF) in which Egypt secures a $3 billion loan over 46 months. Fitch Ratings added also said that Egyptian banks’ regulatory capital ratios can withstand further Egyptian pound depreciation as they are supported by healthy internal…

Asharq Al-Awsat

If councils retain Three Waters, how much more will they have to raise rates?

We continue our 12 questions about Three Waters. If the assets remain on council balance sheets, communities will pay the price – quite literally.

Newsroom.co.nz

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Fitch affirms India's sovereign rating on robust growth, resilient external finances

NEW DELHI: Fitch Ratings on Tuesday affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, saying the rating derives strengths from a robust growth outlook and still-resilient external finances.

The Times of India

Fitch retains India growth forecast at 7% for this fiscal

NEW DELHI: Fitch Ratings on Tuesday retained India's economic growth forecast at 7 per cent for the current fiscal, but cut projections for the next two financial years saying the country is not impervious to global developments.

The Times of India

Interest Rates Put Pressure on Lending, Limit the Liquidity of the Saudi Financial Market

Financial specialists attributed features of liquidity scarcity in the Saudi financial and banking sector to the effects of raising interest rates and increasing the Saudi Interbank Offered Rate, or Saibor, along with the emergence of attractive investment opportunities. According to specialists, the interest rates rose in parallel with the decline…

Asharq Al-Awsat

Treasurer capitalises on top credit rating

Australia has maintained its AAA credit rating by Fitch Ratings, which noted the government's decision to show spending restraint in it's first budget.

AAP

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Thailand has stable outlook, BBB+ affirmed

Fitch Ratings has affirmed Thailand's long-term foreign-currency issuer default rating (IDR) at BBB+ with a stable outlook.

Bangkok Post

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

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

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The Hindu

Fitch upgrades India outlook to stable from negative

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

Asharq Al-Awsat

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…

The Independent UK

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

Orlando Sentinel

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.

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AAP

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.

The Independent UK

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 Times of India

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.

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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