Are foreign rating agencies deliberately targeting India?

Are foreign rating agencies deliberately targetting India?

A lot has been going wrong for the country - high inflation, poor quarterly numbers, a currency that has depreciated more than 25% in the past 14 months... The list goes on. Plenty of reasons for foreign rating agencies to be wary of both — the Indian economy and companies that represent India Inc's finest, and in which FIIs have substantial stakes. But in the past few months, the agencies have sent our way a barrage of excessively negative comments on our companies and industries, especially banking. Do you think the foreigners are getting paranoid and targetting India? Or do they have a hidden agenda?