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Finance ministry to call for rating upgrade for India in meeting with Moody’s

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Indian finance ministry officials plan to seek a sovereign rating upgrade from Moody’s Investors Service when they meet with the company, scheduled for Sept. 28, according to people familiar with the matter.

  • Finance officials plan to provide details on how India will meet its budget targets for the current fiscal year, which runs through March, the people said, asking not to be identified as the details are not public.
  • Moody’s downgraded India’s sovereign rating to Baa3 in June 2020, the lowest investment rating, citing policy challenges in dealing with a protracted economic downturn and deteriorating fiscal position
  • Neither the Ministry of Finance nor Moody’s responded to requests for comment
  • S&P Global Ratings said in May it sees no change in India’s sovereign rating for the next two years

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First published: Thu 23 September 2021 10:23 IST











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