Sobering reality, negative sentiment: Analysts' view of Moody's downgrade

Moody’s Investors Service (Moody’s) downgraded the Government of India's foreign-currency and local-currency long-term issuer ratings to Baa3 from Baa2 and maintained a negative outlook. The downgrade came after market hours on Monday. READ ABOUT IT HERE

Here's how leading analysts have interpreted the development and its likely impact on the markets.

Abhimanyu Sofat, head of research, IIFL Securities

Moody's decision to lower India's rating is a reflection of the stress in Indian economy and fiscal situation that has been amplified by the virus outbreak. We believe the subdued policy response for short term alleviation of the lockdown