India: Moody's cut credit ratings outlook to negative from stable – TDS

TD Securities analysts note that Moody's has cut India's credit ratings outlook to negative from stable, affirming India's foreign issuer rating at Baa2.

Key Quotes

“Moody's cited concerns that growth will be 'materially' lower than in the past. An increasing debt burden and fiscal concerns as reasons for the downgrade in the outlook. Moody's noted that, 'prolonged financial stress among rural households, weak job creation, and, more recently, a credit crunch among non-bank financial institutions (NBFIs), have increased the probability of a more entrenched slowdown".”