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India Plans to Seek Ratings Upgrade in Moody’s Meeting

Moody’s had cut India’s sovereign rating to Baa3 in June 2020, the lowest investment grade, citing policy challenges.

India Plans to Seek Ratings Upgrade in Moody’s Meeting
A monitor displays Moody’s Corp. signage on the floor of the New York Stock Exchange. (Photographer: Michael Nagle/Bloomberg)

Indian finance ministry officials plan to pitch for a sovereign rating upgrade from Moody’s Investors Service when it meets with the firm, scheduled for Sept. 28, according to people familiar with the matter. 

  • Finance officials plan to provide details on how India will meet its budget targets for the current fiscal year, which runs through March, the people said, asking not to be identified as the details aren’t public
  • NOTE: Moody’s cut India’s sovereign rating to Baa3 in June 2020, the lowest investment grade, citing policy challenges in addressing a prolonged economic slowdown and its deteriorating fiscal position
  • Neither the finance ministry nor Moody’s responded to requests for comment
  • NOTE: S&P Global Ratings in May said it sees no change in India’s sovereign rating for the next two years

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