Moody's affirms India's sovereign rating, upgrades outlook to 'stable' from 'negative'
Ratings agency Moody's on Tuesday affirmed India's sovereign rating and upgraded the country's outlook to 'stable' from 'negative', citing receding downside risks to the economy and financial system. The sovereign rating by Moody's stands at 'Baa3' -- which is the lowest investment grade, just a notch above junk status
"With higher capital cushions and greater liquidity, banks and non-bank financial institutions pose much lesser risk to the sovereign than Moody's previously anticipated. Source: Reuters