#BREAKING | Moody& #39;s downgrades India& #39;s rating to Baa3; outlook remains ‘Negative’

India’s rating downgrade not driven by impact of #COVID19: Moody& #39;s

Moody& #39;s says India faces prolonged period of slower growth vs potential; implementation of key reforms by India relatively weak

Moody& #39;s expects India& #39;s real GDP to contract by 4.0% in fiscal 2020 due to the shock from the coronavirus pandemic and related lockdown measures, followed by 8.7% growth in fiscal 2021 and closer to 6.0% thereafter

Moody& #39;s says the longer the period of relatively subdued growth, the more likely India& #39;s debt burden will continue to rise beyond 85% of #GDP