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Financial News: Moody's Lowers India's Rating Outlook

Moody's Lowers India's Rating Outlook

11/07/2019 - 22:18:00 (RTTNews)

(RTTNews) - Moody's Investor Service downgraded India's rating outlook and affirmed the sovereign ratings at 'Baa2' on Friday.

The rating agency cut the rating outlook to 'negative' from 'stable' citing rising risks to economic growth and rising debt burden.

A prolonged period of slower growth would dampen income growth and the pace of improvements in living standards.

India's economy expanded only 5 percent in June quarter, the lowest in six years. The probability to sustain at or above 8 percent growth has diminished, Moody's said.

Further, the rating agency said it does not expect the credit crunch among non-bank financial institutions to be resolved quickly.

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