Food inflation negative for India credit ratings: Moody's

India's sustained food inflation is a negative for the country's sovereign ratings as it exacerbates macroeconomic imbalances, Moody's Investors Service said in a report on Monday.

Moody's is the only one of the three major credit agencies to rate India with a "stable" outlook. Fitch Ratings and Standard and Poor's Ratings Services downgraded their outlook on India to "negative" from "stable" last year.