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Industry Report Card: Credit Profiles Of South Asian Companies Are Headed North Supported By Robust Domestic Growth
Standard & Poors, Aug 2010
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
The credit profiles of companies in South Asia are on an uptrend. Higher demand for products and services stemming from good domestic macroeconomic conditions, along with the gradual, though tentative, improvement in the global economy, has strengthened the credit profiles of companies in the region. This is particularly true in India. Indian companies with large operations in Europe and the U.S. have already started to benefit from the global economic recovery. Exporters and producers of commodities that are linked to global prices have also gained. In addition, we expect the cash flow protection measures of companies in the region to improve as they complete their expansion projects. The general improvement in credit profiles is further bolstered because many companies in...
Companies mentioned in this report are: Reliance Industries Ltd.,Tata Motors Ltd.,Tata Power Co. Ltd.,Steel Authority of India Ltd.,NTPC Ltd.,NHPC Ltd.,Infosys Technologies Ltd.,Ballarpur Industries Ltd.,Bharti Airtel Ltd.,Sri Lanka Telecom PLC,Vedanta Resources PLC,Tata Steel Ltd.,Pakistan Mobile Communications Ltd.,Tata Steel UK Holdings Ltd.,Tata Consultancy Services Ltd.,Rain CII Carbon (India) Ltd.,Wipro Ltd.
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