India is set to expand its petrochemical production significantly, a move that could alter supply dynamics across Asia, according to S&P Global Ratings, reported by ANI. India’s strategy mirrors China’s earlier steps to cut reliance on imports and build a stronger domestic manufacturing base. Ker Liang Chan, a credit analyst at S&P, said India’s capacity…
The central government on Thursday welcomed S&P Global Ratings’ decision to upgrade the country’s long-term sovereign credit rating to ‘BBB’ from ‘BBB-’ and its short-term rating to ‘A-2’ from ‘A-3’, with a Stable Outlook. The last such upgrade came in January 2007, making this the first in 18 years. S&P cited economic resilience, sustained fiscal consolidation,…
Mumbai: S&P Global Ratings has revised its outlook on three Adani Group entities-Adani Electricity Mumbai. (AEML), Adani Ports and Special Economic Zone (APSEZ), and Adani Green Energy Restricted Group 2-on the back of sustained operational strength and continued access to funding despite regulatory overhangs. Following its latest review, the agency affirmed the credit ratings of…
Indian corporates are projected to double their capital spending to $800 billion-$850 billion over the next five years, which will be largely financed by operating cash flows and facilitated by ample domestic funding options, said an S&P Global Ratings report on Tuesday. Barring execution mistakes or negative macro changes, these investments should boost business scale…