Amid India’s gradually improving fiscal indicators, Moody’s Ratings on Monday affirmed India’s long-term local- and foreign-currency issuer ratings, as well as the local-currency senior unsecured rating, at Baa3.

“The stable outlook incorporates India’s gradually improving fiscal metrics and resilient growth prospects compared with peers. However, fiscal accommodation in the context of the uncertain global macroeconomic outlook, including revenue-eroding measures, could impede progress towards debt reduction and exacerbate already weak debt affordability," Moody’s said in its statement.

The rating agency maintained its outlook for India as stable. “The rating affirmation and stable outlook reflect our view that India’s prevailing credit strengths, including its large, fast-growing econom

See Full Page