New Delhi: Moody’s Investors Service, a global rating agency, on Monday September 29 reaffirmed India’s long-term local and foreign-currency issuer ratings at ‘ Baa3 ‘ with a ‘Stable’ outlook. Additionally, the short-term local-currency rating was also maintained at P-3.The rating is given on the backing of robust economic growth and sound external position.

“The rating affirmation and stable outlook reflect our view that India’s prevailing credit strengths, including its large, fast-growing economy, sound external position, and stable domestic financing base for ongoing fiscal deficits will be sustained,” the agency said in a statement as quoted by PTI.

Economy’s resilience

The decision keeps India at the lowest rung of investment grade (just above junk grade investment) but reflect

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