Score company Moody’s reduced India’s foreign currency and local currency long term company rankings to Baa3 from Baa2, while preserving a negative outlook, pointing out prolonged duration of low development and more wear and tear in the federal government’s financial position.
Moody’s stated the unfavorable outlook shows dominant, mutually-reinforcing, drawback risks from much deeper stresses in the economy and monetary system that might lead to a more serious and extended disintegration in financial strength.
Also read: Moody’s Analytics stands by its report
Most affordable grade
Baa3 is the most affordable in financial investment grade in Moody’s rating ladder. This means, India is simply one notch above the non-investment grade or scrap grade.
The rating agency anticipates the country’s GDP to contract by 4%in the present financ