Moneycontrol
Last Updated : Apr 25, 2012 03:01 PM IST | Source: CNBC-TV18

Moody's reaffirms India's stable outlook

Moody's, in a sharp contrast to Standard and Poor's, said its long term outlook on India remains stable. The statement changed the sentiment in the market and Sensex recovered a major portion of its losses.


Moody's, in a sharp contrast to Standard and Poor's, said its long term outlook on India remains stable. Moody's has issued its paper last week saying it has a Baa3 rating on India, while Fitch rates India BBB-. Both are also the minimum investment grade ratings.


Moody's said Indians have a high propensity to save that will help absorb government's large borrowing and sustain growth.


The statement changed the sentiment in the market, which was battered after the S&P lowered its outlook on India to negative. Sensex recovered a major portion of its losses.

 

First Published on Apr 25, 2012 02:05 pm
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