News > Moody's Downgrades India's Ratings
Moody's Downgrades India's Ratings
Good Returns | 01/06/2020 11:15 PM | Click to read full article
Moody's Investors Service on Monday downgraded India's foreign currency and local currency long-term issuer ratings to Baa3 from Baa2, believing the country's policymaking institutions will be challenged in enacting and implementing policies which effectively mitigate the risks of a sustained period of relatively low growth. Moody's expects India's real GDP to contract by 4.0% in fiscal 2020 due to the shock from the coronavirus pandemic and related lockdown measures.