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#BREAKING | Moody's downgrades India's rating to Baa3; outlook remains ‘Negative’
India’s rating downgrade not driven by impact of #COVID19: Moody's
Moody's says India faces prolonged period of slower growth vs potential; implementation of key reforms by India relatively weak
Moody's expects India'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's says the longer the period of relatively subdued growth, the more likely India's debt burden will continue to rise beyond 85% of #GDP
