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    Default India’s rating outlook stable: Moody’s

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    Global agency Moody’s on Monday retained outlook on India’s rating at stable despite slowdown in GDP growth rate saying that it is unlikely to be even a medium-term feature.

    Moody’s Investors Service in a statement said, “It is maintaining its stable outlook on India’s rating as various credit challenges — such as weak fiscal performance, tendency towards inflation and an uncertain investment policy environment — have characterised the Indian economy for decades, and are already incorporated into the current Baa3 rating.”

    On the other hand, it said that certain recent negative trends — such as lower growth, slowing investment and poor business sentiment — are “unlikely to become permanent or even medium-term features of the Indian economy.”

    Although, Moody’s expects that global and domestic factors, including potential shocks in agriculture, could keep India’s growth below trend for the next few quarters.

    India’s GDP growth rate slowed to 6.5 per cent in 2011-12 against 8.4 per cent in the previous two financial years. The government expects the economic growth in the current fiscal at around 7.6 per cent.
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