Moody's did not issue new statement on India ratings

According to reports Moody's affirmed India rating at BAA3 and said outlook was stable

Moody's Investor Service has not issued any new statement on India's sovereign rating and outlook, the agency told Reuters on Wednesday.

According to a TV report, Moody's affirmed India rating at BAA3 and said outlook was stable.

"I would like to clarify that Moody's have no rating affirmation nor announcement on India following S&P's ratings action on India today," said Eleanor Sheung, communications strategist for Asia ratings.

Standard & Poor's on Wednesday cut India's outlook to negative from stable, citing its large fiscal deficit and expectations of only modest progress on reforms given political constraints, battering stocks, bonds and the rupee.