(Bloomberg) -- India's local currency bonds will
keep a non-investment rating as the government isn't reducing
its budget deficit fast enough, Moody's Investors Service said.
The rating ``remains constrained'' at Ba2, two notches
below investment grade and the same level as Armenia and Jamaica,
as state debt equal to three-quarters of the economy ``leaves
public finances vulnerable,'' Moody's lead sovereign analyst for
India, Aninda Mitra, said in an e-mail to Bloomberg News.
Read more at Bloomberg Emerging Markets News
keep a non-investment rating as the government isn't reducing
its budget deficit fast enough, Moody's Investors Service said.
The rating ``remains constrained'' at Ba2, two notches
below investment grade and the same level as Armenia and Jamaica,
as state debt equal to three-quarters of the economy ``leaves
public finances vulnerable,'' Moody's lead sovereign analyst for
India, Aninda Mitra, said in an e-mail to Bloomberg News.
Read more at Bloomberg Emerging Markets News
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