In what is unquestionably good news for the Indian economy, international credit rating agency Moody’s has raised India’s sovereign bond rating from Baa3 to Baa2.
The upgrade means that it should be easier not just for the sovereign but also for large public sector firms and some private sector companies, particularly blue chips, to access foreign funds. In raising India’s sovereign rating, the agency said that it was responding to reforms that the government had implemented so far as they would improve the business climate and create the conditions for strong and ...
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First Published: Sun, November 19 2017. 22:45 IST
