Moody's: Stable view for India

Moody's Investors Service said the Indian government's recent budget announcement is in line with its stable outlook on India's Baa3 foreign-currency and Ba2 local-currency sovereign credit ratings, while various medium-term risks remain unaddressed.

The overall deficit out-turn is larger than those of India's Baa- and Ba-rated peers, but it is - at the same time - based on conservative macro-economic assumptions, and still broadly consistent with the near-term stability in the government's debt trajectory, Moody's said.

The financing of the deficit should be reasonably comfortable, if the government utilizes its new-found "political space" and follows through with a concerted disinvestment effort, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.