Moody's retains India's rating, 'stable’ outlook

India to remain fastest growing G20 economy for 2-3 years, ‘Baa3’ rating reaffirmed

- FE BUREAU

CREDIT-RATING FIRM MOODY'S Ratings maintained India’s sovereign rating at ‘Baa3’ with a stable outlook on Monday, citing that a very gradual decline in the government's high debt burden will not be sufficient to improve weak debt affordability materially.

In August, S&P Global Ratings upgraded India's sovereign credit rating to BBB from BBBwith a stable outlook, marking the first such upgrade in 18 years.

Whereas, Fitch has retained India's sovereign rating at 'BBB-'.