The Latest Breaking News from Fitch

Explained | India’s coal shortage and its effect on power supply

Seventy per cent of India’s power demand is met by coal-fired power plants.

The Hindu · Apr 21, 2022

Australia PM Morrison seeks to sell voters on Budget breaks

Trailing in the polls, Australia's Liberal National government on Wednesday sought to sell A$8.6 billion ($6.46 billion) of budget giveaways as necessary to meet a cost of living emergency and not a transparent attempt to buy votes.

Reuters · Mar 30, 2022

EU to Lend Tunisia 450 Mln Euros for Budget Support, Commissioner Says

The European Union said on Tuesday it will lend Tunisia 450 million euros ($500 million) to support its budget as the North African country faces a looming crisis in public finances for which it is seeking an international rescue package. Speaking after a meeting with Tunisian government officials in Tunis,…

Asharq Al-Awsat · Mar 29, 2022

S&P Cuts Russia's Rating to Junk, Moody's Issues Junk Warning

Russia's invasion of Ukraine triggered a flurry of credit rating moves on Friday, with S&P lowering Russia's rating to 'junk' status, Moody's putting it on review for a downgrade to junk, and S&P and Fitch swiftly cutting Ukraine on default worries. Both countries' financial markets have unsurprisingly been thrown into…

Asharq Al-Awsat · Feb 26, 2022

Fitch Downgrades Ukraine Debt over Crisis, Moody's Issues Warning

Fitch on Friday cut the rating on Ukraine's government debt to "CCC" from "B" following the Russian invasion of the country, which it said creates a "severe negative shock." "The military invasion by Russia has resulted in heightened risks to Ukraine's external and public finances, macro-financial stability and political stability,"…

Asharq Al-Awsat · Feb 26, 2022

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 · Feb 8, 2022

Latest Ukraine updates: Macron says resolution may take months

Ukraine news from February 8: After talks with Putin and Zelenskyy, French president offers his analysis of the crisis.

Al Jazeera · Feb 8, 2022

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 · Feb 7, 2022

Abu Dhabi’s ADNOC Forms Unit to Issue Debt, Explore Funding

Abu Dhabi National Oil Co (ADNOC) has set up a subsidiary, ADNOC Murban, to issue primary debt and explore new funding opportunities. ADNOC Murban will become the primary debt capital markets issuing and rating entity for the ADNOC Group, the Abu Dhabi state oil giant said in a statement. Named…

Asharq Al-Awsat · Jan 25, 2022

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. 

Benzinga · Jan 25, 2022