International rating agency Moody's said on Monday it had downgraded India's long-term foreign and national currency ratings to Baa2 from Baa3 with negative outlook
MOSCOW (Pakistan Point News / Sputnik - 01st June, 2020) International rating agency Moody's said on Monday it had downgraded India's long-term foreign and national Currency ratings to Baa2 from Baa3 with negative outlook.
"Moody's Investors Service ("Moody's") has today downgraded the Government of India's foreign-currency and local-currency long-term issuer ratings to Baa3 from Baa2. Moody's has also downgraded India's local-currency senior unsecured rating to Baa3 from Baa2, and its short-term local-currency rating to P-3 from P-2. The outlook remains negative," the agency said.
The agency's move is due to expected challenges in enacting and implementing the government's policies mitigating risks of long period of depressed growth, as well as issues with fiscal and financial sector.
