Download GKToday's Android App for Current Affairs updates and quizzes.
Moody’s rates India’s sovereign credit outlook stable
- Global Rating Agency, Moody’s Investment Services has kept India’s sovereign credit outlook stable.
- As per the agency a slowdown in growth and investment is expected to be transitory.
- As per its report, certain recent negative trends, lower growth, sluggish investment and poor business sentiments are unlikely to become permanent or even medium term features of the Indian economy.
- The company rated India’s long term foreign currency and local currency debt at Baa-3, the lowest grade.
- Moody’s opinion is opposite to Fitch Ratings and Standard and Poor which have downgraded credit outlooks for India to negative from stable.
Tags:2012 , June 2012