India's credit profile to face further pressure due to Covid-19: Moody's

Moody's rating on the government of India is Baa2 with negative outlook

India’s credit profile will face additional pressure amid the pandemic, according to rating agency Moody’s. The steep slowdown in economic growth will deepen with the extended lockdown. 

“For India, we expect a sharp slowdown in growth, with real gross domestic product (GDP) growth averaging 0.2 per cent in CY20, down from our previous forecast of 2.5 per cent,” said Moody’s in a statement. Moody’s rating for the Indian government is Baa2, with a negative outlook.

The rapid and widening spread of the