# S&P Global Ratings said robust corporate balance sheets and banks’ strong capital and profitability would cushion the economy against higher energy prices.

*business · news · 2026-04-14 · Lokmat Times*

## Key points

- S&P Global Ratings does not expect immediate downgrades for India due to the West Asian conflict.
- A $130 per barrel oil scenario in 2026 could slow India's growth by up to 80 basis points.
- Corporate sector EBITDA may decline 15-25% and leverage could rise by 0.5x-1x EBITDA in 2027.
- Banking system weak loans could rise to 3.5%, but credit quality is expected to recover in 2028.
- The Reserve Bank of India imposed a $100 million cap on banks' net open positions, reducing forex income.

**Companies:** S&P Global Ratings
**Countries:** India

[Read the full story on Lokmat Times](https://www.lokmattimes.com/business/india-can-absorb-energy-shock-but-fiscal-strains-possible-report/)

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