Moody’s Rating Low for India (Folo) Hey, Big Lender: India Embraces World Bank $500 Million for Infrastructure Projects BUSINESS ASIA By Bloomberg
August 7, 2007
Indian local currency bonds will keep a noninvestment rating as the government is not reducing its budget deficit fast enough, Moody’s Investors Service said Monday.
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 message.
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