FX.co ★ Moody's Affirms India's Rating at Baa3

Moody's has maintained India's long-term local and foreign-currency issuer ratings, along with its local-currency senior unsecured rating, at Baa3 with a stable outlook. This decision highlights India's enhancing fiscal metrics and robust growth outlook. "The stable outlook takes into account India's gradually improving fiscal situation and its resilient growth prospects relative to its peers. Nonetheless, fiscal accommodations amid an uncertain global macroeconomic environment — which includes revenue-diminishing measures — could hinder progress in reducing debt levels and worsen the already weak debt affordability," Moody's stated. Meanwhile, Standard & Poor's credit rating for India is affirmed at BBB with a stable outlook, and DBRS Morningstar last reported India's credit rating as BBB, also with a stable outlook.