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Business Standard

Why Moody's downgrade is not a bolt from the blue but still not justified

While this downgrade will not affect the sovereign as it does not borrow overseas, it will however affect Indian companies borrowing from abroad

Topics
Moody’s | India GDP growth | GDP growth

Madan Sabnavis 



The lowering of India’s credit ratings by Moody’s from Baa2 to Baa3 with a negative outlook does not come as a shock considering that downgrading of all countries due to the pandemic was quite likely given the way things have turned out. However, it was logical to assume that no such judgment call would be taken at this point of time. Let’s see the basis for the same.

Disclaimer: Views expressed are personal. They do not reflect the view/s of Business Standard.

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First Published: Mon, June 01 2020. 20:38 IST

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