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Moody’s Affirms India Rating

India’s sovereign rating was affirmed at ‘Baa3’ by Moody’s Investors Service, with a positive outlook. Moody’s expects policymakers to continue reforms to achieve balanced growth and reduce the government’s debt load.

India had pitched hard with Moody’s for a rating upgrade, but the US-based agency has maintained that it would wait for “tangible” benefits of reform initiatives before upgrading its sovereign rating.

Baa3 rating implies lowest investment grade — just a notch above ‘junk’ status.

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