A lower rating on US debt could cost taxpayers if it leads borrowers to demand higher interest rates on Treasury bills and notes.
'Aadhaar most trusted digital ID in the world': Govt refutes Moody’s Investors Service’s views on safety
Moody's Investors Service on Wednesday said Singapore's DBS Bank will strengthen its India business following merger with troubled Lakshmi Vilas Bank.
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent and said the coronavirus pandemic will cause unprecedented shock to the global economy.
The global rating agency said that repeated shock related to sea level rise like damage to assets, loss of life, health issues and forced migration from the sudden events can materially weaken a sovereign's credit profile.
Moody's Investors Service on Monday said that India's weak household consumption will curb economic growth and weigh on the credit quality of Indian issuers in a range of sectors. Moody's has lowered its GDP growth projection for India for the fiscal year ending March 2020 to 4.9 per cent from 5.8 per cent.
On asset quality, Moody's said it will remain stable but weak, as the clean-up of legacy problem loans nears completion and corporate health improves.
The move is likely to have an impact on global rating agencies like S&P, Moody's and Fitch which have significant holdings in domestic agencies besides their direct presence.
Reforms pushed by Prime Minister Narendra Modi in recent years form the primary basis of the rating upgrade by Moody's Investor Service.
Finance Minister Arun Jaitley said that Moody's upgrade of India's rating was a recognition of the reform process which has gone on in India, particularly in the last 3-4 years.
New Delhi: Steel consumption in India is set to pick up once the new government's infrastructure spending policies are put in place, Moody's Investor Service said today. “The new Indian government's inaugural budget announced on July
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