Moody's upgrades India's Credit Rating ,I want to know some information about it,who can help me?
Moody's upgrades India's Credit Rating ,I want to know some information about it,who can help me?
India's credit rating was upgraded today. That should save 0.25% or so
on loans. Or several hundred Millions. The rating was upgraded to
positive Ba2 by Moody's today (10/06/99).
Even now India's rating is not investment grade. USA's rating is
ofcourse Aaa. But a positive rating is usually followed by a letter
upgrade to Baa or maybe even A(?) after a couple of months if the
improving trend in finances and investments continues.
Pakistan is at C- (or one step above D or Default as in officially
BANKRUPT)
--
India debt rating outlook raised to positive from stable - Moody's
NEW YORK, Oct 6 (AFP) - Moody's Investors Service said Wednesday it
raised the outlook to positive from stable for India's Ba2 ratings on
foreign and domestic currency debt.
Moody's said India's balance of payments were resilient through the
Asian and Russian financial crises, as well as through the
international sanctions imposed after India's May 1998 nuclear tests.
"In addition, the external debt maturity structure improved and foreign
reserves strengthened in recent years, reducing the country's
vulnerability to external shocks," Moody's said in a statement.
"A stronger consensus has emerged across the political spectrum
concerning the necessity for structural economic reform, although
frequent political upheavals since 1996 have interrupted legislative
advances and policy implementation," it added.