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Finance Ministry to Seek Ratings Upgrade for India

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 September 28, media reported. 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

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. 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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