NEW DELHI: India's credit standing upgrade by means of Moody's is a mirrored image of the country's enlargement story, Niti Aayog Vice Chairman Rajiv Kumar stated today and expressed hope that different international agencies reminiscent of S&P and Fitch would practice swimsuit.
The US-based Moody's upgraded India's sovereign score after a gap of 13 years to Baa2, with 'solid' outlook, from Baa3 previous, mentioning progressed enlargement potentialities driven by means of financial and institutional reforms.
"Moody's upgrading India's Ratings is a reflection of India growth story and sound economic principles for a #NewIndia. Hoping others will follow," Kumar stated in a tweet.
Former Economic Affairs Secretary Shaktikanta Das stated in a tweet: "Moody's upgrade India's credit rating after 13 years. A clear recognition of economic & institutional reforms; well paced shift towards formalisation of the economy; improvement in business climate;positive growth outlook."
In 2015, the score outlook was changed to 'certain' from 'solid'.
The 'Baa3' score was the lowest funding grade -- only a notch above 'junk' standing.
In a commentary this morning, the credit scores company stated: "The decision to upgrade the ratings is underpinned by Moody's expectation that continued progress on economic and institutional reforms will, over time, enhance India's high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term."
It cautioned alternatively that top debt burden stays a constraint on the country's credit profile.
The US-based Moody's upgraded India's sovereign score after a gap of 13 years to Baa2, with 'solid' outlook, from Baa3 previous, mentioning progressed enlargement potentialities driven by means of financial and institutional reforms.
"Moody's upgrading India's Ratings is a reflection of India growth story and sound economic principles for a #NewIndia. Hoping others will follow," Kumar stated in a tweet.
Former Economic Affairs Secretary Shaktikanta Das stated in a tweet: "Moody's upgrade India's credit rating after 13 years. A clear recognition of economic & institutional reforms; well paced shift towards formalisation of the economy; improvement in business climate;positive growth outlook."
In 2015, the score outlook was changed to 'certain' from 'solid'.
The 'Baa3' score was the lowest funding grade -- only a notch above 'junk' standing.
In a commentary this morning, the credit scores company stated: "The decision to upgrade the ratings is underpinned by Moody's expectation that continued progress on economic and institutional reforms will, over time, enhance India's high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term."
It cautioned alternatively that top debt burden stays a constraint on the country's credit profile.
India's rating upgrade reflects growth story: NITI
![India's rating upgrade reflects growth story: NITI]()
Reviewed by Kailash
on
November 18, 2017
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