Global rating agency Moody's on Friday said India's sovereign outlook is stable and does not warrant any action on the country's credit rating in the next 12-18 months.
"We feel the outlook (on India) is stable. We do not see ratings movement up or down in the next 12-18 months," Moody's Sovereign Ratings V-P and lead analyst (India) Atsi Sheth said on the sidelines of ADB annual meet.
Sheth said Moody's has already incorporated the
possibility of an improvement in India's growth in its current rating outlook.
In January, Moody's had reaffirmed sovereign credit rating of India at 'Baa3', which indicates investment grade, with a stable outlook. It had, however, cautioned that a high fiscal deficit could pull down the growth in the coming years.
"We expect the downturn will be extended if that is what the world is going through right now. But we do expect that as conditions globally improve, if the domestic situation improves, growth too will see an upward trajectory," Sheth said.
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