Moody's Affirms India's Rating, Says Reforms Yet To Produce Results

New Delhi: Moody's Investors Service on Wednesday affirmed India's sovereign ratings, citing economic and institutional reforms under Prime Minister Narendra Modi, but said the measures have yet to produce enough dividends to warrant an upgrade. Moody's becomes the second ratings agency after Standard & Poor's to decline an upgrade to India's ratings despite government lobbying. Moody's rates India at "Baa3", the lowest investment-g...