ADVERTISEMENT

S&P Ratings cautious on Indian govt supporting SOEs


  • Banking
  • Tuesday, 29 Jan 2019

The share buybacks announced so far, including the 40bil rupees offering at Oil and Natural Gas Corp Ltd (ONGC; BBB-/Stable/--) that opened on Tuesday, are manageable within   the credit profiles of respective SOEs.

The share buybacks announced so far, including the 40bil rupees offering at Oil and Natural Gas Corp Ltd (ONGC; BBB-/Stable/--) that opened on Tuesday, are manageable within the credit profiles of respective SOEs.

SINGAPORE: S&P Global Ratings foresees credit risks at Indian state-owned enterprises (SOEs) from corporate activity designed to support the Indian government's budgetary coffers. 

The rating agency said on Tuesday that in the last three months, 10 SOEs have announced or executed buybacks for a cumulative amount of 150bil rupees (RM8.67bil), which will count toward the government's target of 800bil rupees from monetisation of SOE stakes for the full year. 

Banking , Economy

   

ADVERTISEMENT