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Moody’s Upgrades India’s Rating After 13 Years
November 22, 2017
Global credit rating firm Moody’s upgraded India’s sovereign credit rating from “Baa3” to “Baa2” with a stable outlook. It accredited the move to improved growth prospects resulting from institutional and economic reforms.
The last time when Moody’s upgraded India’s rating was in 2004 when it picked “Baa3”. So, it’s a gap of 13 years.
In a recent report released by Moody’s, it said that the government’s efforts to formalize economic activity and curb corruption, including through GST and demonetization should further help to empower India’s institutions.
