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| Moodys India Rating |
Moody's said that it would be challenging for the government to implement policies to deal with the long economic slowdown and bad financial situation.
Moodys India Rating-BAA3 is the worst rating for investment.
⇛The global rating agency Moody's Investor Services on Monday lowered India's sovereign rating. The rating agency reduced the country's rating from BAA 2 to BAA 3. The rating agency said that it would be challenging for the government to implement policies to deal with the possible economic slowdown and worsening financial situation for a long time.
⇛The rating agency said in a statement that the Indian government's foreign currency and local currency long-term insurance rating has been reduced from BAA2 to BAA3. It has also reduced India's local currency senior unsecured rating from BAA2 to BAA3. Moodys has reduced India's short-term local currency from P-2 to P-3. The agency maintained India's outlook on the negative.
Deep tensions in the economy and financial system
⇛Moody's stated that a negative outlook meant that there was a downside risk due to deep tensions in the economy and financial system. This may lead to a large and long-term decline in the financial strength of the country as compared to Moody's current estimate. It is just one level above the junk category. After 13 years, Moody's had raised India's sovereign credit a notch up in November 2017 from BAA3 to BAA2.
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