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Moody's pegs rating revision to speedy reforms

All the three big international rating agencies such as S&P, Moody's and Fitch have BBB ratings on the country's sovereign with a stable outlook. The current rating is closest to junk status or below investment grade.

November 27, 2014 / 09:31 IST
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Rating agency Moody's Investors Service Wednesday said the sovereign outlook for the country remains stable at Baa3, but future rating trends depend on the reform measures taken by the government.

"Sovereign credit rating trends in 2015 will depend on the extent to which the government addresses high fiscal expenditures, recurrent food price inflation, and wide infrastructure deficit," Moody's said in a report.

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All the three big international rating agencies such as S&P, Moody's and Fitch have BBB ratings on the country's sovereign with a stable outlook. The current rating is closest to junk status or below investment grade.

The report says the government's ability and willingness to undertake structural reforms will have a bearing on the credit rating outlook of the country.