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Moody Upgrades India’s Credit Outlook to Baa3

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Moody’s Investors Service raised the outlook on India’s Baa3 credit rating to “positive” from “stable” on Thursday – becoming the first of the three major ratings agency to upgrade its view.
The revision was based on the perception that India’s policymakers are establishing a framework that will improve India’s “macro-economic, infrastructure and institutional profile”, allowing the economy to outperform its peers over the medium-term.

“There is an increasing probability that actions by policy makers will enhance the country’s economic strength and, in turn, the sovereign’s financial strength over coming years,” Moody’s said.

Peers Standard and Poor’s and Fitch Ratings rate Indian credit at the lowest investment grade, in line with Moody’s rating, but with a “stable” outlook.

Investors reacted positively to the move, with the benchmark S&P BSE Sensex rising 0.5 percent at the start of trade.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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