Moody's, however, said it was unlikely to change its investment grade rating to India's sovereign foreign currency rating or the domestic currency rating, which is below investment grade.
On Tuesday, Fitch had lowered India's long-term local currency outlook from stable to negative in a move that could make borrowings overseas more expensive and might also impact investment into the country. It, however, left the sovereign, local currency and foreign currency ratings at BBB-, which indicates investment grade. The foreign currency outlook was stable.
"We have not decided to change the ratings
