Moody’s Investors Service on Thursday changed its outlook on India’s ratings to “negative” from “stable”, citing concerns the government won’t be able to counter stunted economic growth.
The rating company affirmed the nation’s foreign issuer rating at Baa2, the second-lowest investment grade score, according to Bloomberg.
Fitch Ratings and S&P Global Ratings still hold India’s outlook at stable.
The downward revision of India’s outlook by Moody’s may weigh over Indian Rupee (INR). The USD/INR pair closed at 70.749 on Thursday.
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